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Archive: 08 December 2018

Posts in 08 December 2018

Addition U/s. 68 for Alleged unaccounted stock merely based on value of closing stock declared to banks is not sustainable

December 8, 2018 3033 Views 0 comment Print

ACIT Vs Thatavarthi Ramesh Babu Kanuru (ITAT Visakhapatnam) It is no doubt true that the initial burden is upon the assessee to prove the correct value of the stock held by the assessee and he has to prove that the value reflected in the books of accounts is correct but the fact remains that the […]

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