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Excess Stock

S. 130 Proceedings under GST cannot be Initiated against Excess Stock Found During Survey: Allahabad HC [Read Order]

In a recent ruling, the Allahabad High Court has held that proceedings under Section130 of the Central Goods and Services Tax Act, 2017 which deal...

Allahabad High Court - Allahabad HC - Section 130 GST Act- GST Act- Goods and Service Tax Act - Excess Stock - excess Stock found Survey - TAXSCAN

S. 130 Proceedings under GST Act cannot be initiated against Excess Stock found during Survey:...

ITAT Deletes AO's Excess Stock Addition based on Misinterpretation of Finished Goods Accounting...

Investment Income from Excess Stock cannot be Taxed u/s 69 B of Income Tax Act, Must be Assessed as...

Excess Stock could be said to have Arisen out of Normal Activity where Undisclosed Business Income...

Section 115BBE of Income Tax Act not applicable on Surrendered Income on account of Excess Stock found during course of Survey: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT) Indore bench held that Section 115BBE of the Income Tax Act, 1961 is not applicable on surrendered income on account of excess stock found during the course...

Confiscation of Excess Stock not permissible in the absence of Physical Stock-taking and Non-disclosure of Stock-taking methodology: CESTAT

The Ahmedabad Bench of the Customs, Excise & Service Tax Appellate Tribunal( CESTAT ) has held that confiscation of excess stock is not permissible in the absence of physical stock-taking and...

Investment in the Excess Stock is Taxable as ‘Business Income’: ITAT Jaipur [Read Order]

In Bajargan Traders C/o Kalani & Co v. ACIT, the Jaipur bench of the Income Tax Appellate Tribunal (ITAT) held that investment in the excess stock has to be brought to tax under the head “business...