This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
ITAT allows ‘Rasna’ Loss on account of destroyed stock
Case Law Details
- Case Name
- Rasna Pvt. Ltd. Vs Dy. CIT (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2008-09
- Courts
- All ITAT, ITAT Ahmedabad
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
Rasna Pvt. Ltd. Vs Dy. CIT (ITAT Ahmedabad)
So far as deleting the dis allowance of Rs. 32,28,899/-on account of destroyed stock is concerned. This amount has been disallowed on the ground that similar addition was made in the A.Y. 2008-09 in the case of Waves Foods Pvt. Ltd. on the ground that claim of the assessee regarding stock become absolute on account of expiry date has not been accepted by the department. Accordingly, addition of Rs. 32,28,899/- was made. The product dealt by the Rasna Pvt. Ltd. has shelf life of 18 to 24 months depending upon products. After the perio...
