...ignored those actual figures enclosed with the return. In any case, no statutory provision under the Income Tax regime requiring the assessee to maintain the Daily Stock Register has been brought to our notice. Hence, even if no...not possible to deduce the true income of the assessee from the accounts maintained by her, nor the accounts can be said to be defective or incomplete for this reason alone. If stock register is ...accounting and valuation of stock during the year in question as was done by her in the preceding years. He, accordingly, held that the Assessing Officer was not justified in rejecting the books of account...

...% shown by the assessee wherein the ld. Counsel for the assessee contends that the AO has given contradictory observation about the stock register inasmuch as at one place it is mentioned that the assessee is ...denied having ever admitted to not maintaining stock register. In fact, the submission of the assessee (reproduced on page 2 of the order u/s 143(3) states that stock records have been maintained, on a day...stocks are maintained and produced by the assessee. In my considered view the exact earning of gross profit and maintenance of qualitative and quantitative stock of each and every item of carpet is...

...profit rate. He further contends that though the assessee has not challenged the rejection of books of account yet estimation of gross profit is not warranted only because the assessee has not maintained q...contends that the assessee has not maintained any books of account at all which is not disputed by the assessee. He further contends that the AO has rightly observed that in the absence of stock ...fact that stock register is not maintained, therefore, the rejection of books of account and estimation of gross profit is in order. The assessee has not challenged the ground about the r...

..., Storage and Regulation) Order, 2008, if the stock register is not maintained at any particular day the stock shall not be seized, hence the seizure is illegal; petitioner filed...12.10.2015 seeking release of the seized stock and the same is not released and 6A proceedings were also not initiated, hence the Writ petition. Counter affidavit is filed by the respondents stating...said Mill was surprised on 21.09.2015 and stock was seized alleging that there is variation in the stock; as per the guidelines issued under the Andhra Pradesh Scheduled Commodities Dealers (Licensing...

...register is not maintained properly and seized the stock; a case under Section 6A of the Essential Commodities Act was also registered against the petitioner; the petitioner filed a petition seeking...same strictly in accordance with law. Till the proceedings are disposed of, the respondents are directed not to sell the seized stock. 7. The Writ Petition is disposed of...stock by conducting public auction. Challenging the same, the present Writ Petition is filed. 4. When the Writ Petition came up for admission on 01.04.2015, the following...

...purchase and sale is made through account payee cheque. Complete details of manufacture are kept. However, day to day stock register is not maintained as it is not possible to ma...defect in maintenance of accounts was pointed out by the AO except that day to day stock register is not maintained. If stock register is not maintained or ...stock register, then other activities have been examined i.e purchases, job charges paid, other materials purchased and thereafter the materials sold. There is no discrepancy on these accounts...

...accounts of the assessee are subject to government audit as well as audit u/s. 44AB of the I. T. Act. The Assessing Officer has made the addition mainly stating that stock register of raw materials, non production of ITA No.2319/Ahd...find that it is an admitted fact that stock register, bills and vouchers are not maintained by the assessee and rejection of book results upheld by the CIT(A) has not...above issue are that the Assessing Officer during the course of assessment proceedings rejected the book results on account of non maintenance of stock register, non maintenance of day-to-day consumption...

...filed any stock register nor bills of purchase of goods. As per report of M/s. Suresh Patel & Associates, Chartered Accountants stock register is not maintained. In the absence of ...stolen goods, stock register, bills, etc., learned State Commission has rightly dismissed the complaint. 6. In the proposal form, the petitioner mentioned that walls, roof and floor of the insured premises...has not committed any error in setting aside the order of the District Forum and dismissing complaint. 8. Consequently, the revision petition filled by the petitioner against the respondent is...

...produced before him, but no one can say that the assessee did not maintain day-to-day stock register. This observation of the A.O in his order supports this claim of the assessee that the stock register wa...said that no stock register was maintained by the assessee. From these facts, it is our considered opinion that the CIT(A) was not justified in stating in his order in Para 11.8 that the request for...admitting additional evidences of stock register cannot be granted as the assessee had failed to make out the case under Rule 46A. When it is seen that some stock register was produced by the assessee befo...

.... 4. During the course of the assessment proceedings the assessee was asked to show cause why quantitative stock register is not maintained in form 3CD. The assessee was also...of daily consumption of stock is available. The assessee did not produce stock register and the AO found that even the auditors have in the books of account not made reference to stock ...account is non maintenance of stock register which is not only erroneous but also illogical. It is the say of the Counsel that books of account 3...

...appearing in Kilograms i.e. weight wise and the, stock he showing in the stock register is as per the no of products i.e the no of cups as the assessee is manufacturer of plastic cups. So it is ...weight or number of cups. This cannot be taken to be a position that there is no stock register. Also in any case as held by the Hon'ble Delhi High Court in the case of CIT-12 v. Smt. Poonam Rani in ITA No. 406/2009, order ...Schedule 9-B has not mentioned stock register has been part of the list of the books maintained by the assessee, in para 7(v) of page 7 the A.O. writes:—“In the audit report, the stock...

...vouchers. The AO has not found any purchase and sale, which is not verifiable from books of accounts. Maintenance of stock register is not possible in such kind of business, however, asse...addition made and sustained is on hire side. Stock inventory is prepared on estimated basis as stock register is not maintained though assessee explained decline in GP rate. We a...the assessee had not maintained stock register due to varied items or varied specification and design. The AO gave reasonable opportunity of being heard on this issue to the assessee to provide...

...the purchases and sales are supported by bills and vouchers and if the stock register is not maintained, it cannot form basis for rejection of books of accounts. As per the Ld. Counsel, the appellant.... However, as the G.P. rate has been estimated in the case of the appellant after rejecting the books of accounts because the stock register was not maintained, the G.P. rate worked out on the basis of the individu...as the stock register is not maintained and so correctness of valuation of closing stock and gross profit declared is not verifiable.2.3.3 The Assessing Officer ha...

...others cannot be stated to be maintained by the assessee against the gold items. He also observed that the assessee is not maintaining a stock register and therefore, he came to the conclusion that it ...deposited and the loan amount taken from him are all recorded. According to him, both the authorities below, have erred in holding that the stock register is not maintained by the assessee and therefore...girivi account and not a stock register. He submitted that the details of the gold deposited are recorded on the girivi a/c and such gold is sent to the bank through his family members or employees and the...

...rate has also marginally improved. In view of above, it was submitted that the trading addition be deleted.It is seen that the assessee is itself admitting that the stock register is ...the assessee is itself admitting that the stock register is not maintained. Further, it is also not denied that certain bills are not subject to scrutiny as they do ...accounts and evidences produced by the assessee it was found that the assessee is not maintaining stock register, purchases of an amount of Rs. 3.33 crores have been made through credit card, bills for...

...the AO has found any defect in the same. The only observation is that stock register is not maintained ignoring the nature of business of assessee whereby all the material purchased is di..., simply because stock register is not maintained, rejection of books of accounts is not justified. The assessee has regularly maintained books of accounts in similar manner whic...the AO has found any defect in the same. The only observation is that stock register is not maintained ignoring the nature of business of assessee whereby all the material purchased is di...

...stock register is not maintained properly. As per the ld AR, the assessee was valuing its closing stock at cost except defective or damaged goods the method as consistently followed by it in the...unserved and the Assessing Officer found that the assessee has not maintained proper stock register. Therefore, rejection of books of account and additions so made by the Assessing Officer was...books of account on the plea that the stock records are not maintained and in respect of some of the suppliers notices issued U/s 133(6) of the Act was returned unserved. As per our considered view mere...

...CIT v/s Smt. Poonam Rani [2010] 192 Taxman 167/326 ITR 223 held that if stock register is not maintained by the assessee that ... case the stock register is not maintained the only consequence thereof should be rejection of the books of account of the assessee. Therefore, the Assessing Officer was wrong in...were rejected by the assessing officer primarily on the contention that "stock register" was not maintained, and even the auditor had reported in clause 28(a) of the Tax Audit Report that "no...

...through which goods are sent. The Tax Audit Report does not show any quantitative details being maintained. Stock register is not maintained. This is a case of manufacturer. The ...purchases were allegedly claim to have been made to the tune of Rs. 3,61,415/-. The assessee did not produce the parties for verification and also could not produce the stock register. All these facts...that the claimed parties never supplied any material to the assessee nor the assessee produce the stock register and the purchases did not match with the sales. Considering the totality of facts and the...

...or discrepancy in the books of account. Only because stock register is not maintained, AO has made addition to GP. It is a fact on record that in course of proceeding before the first appellate...register is maintained considering the large varieties and sizes, however, as per the physical stock taken at the end correct GP is derived and accounted for. It was further submitted, assessee is..., assessee has not maintained stock register, which was well explained before the departmental authorities, but, all other financial records have been fully maintained which has not been disputed ...