Non Maintenance of the stock register cannot form the basis of rejection of the assessee’s books of accounts

Non Maintenance of the stock register cannot form the basis of rejection of the assessee’s books of accounts

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stock register

Non Maintenance of the stock Register cannot form the basis of rejection of the assessee’s books of accounts

COMMISSIONER OF INCOME TAX vs. MARUTI UDYOG LTD.

HIGH COURT OF DELHI

Accounts—Rejection—Absence of stock register vis-a-vis excessive consumption of raw material and inputs—Settlement Commission having accept the figure of consumption of raw material for the period 1986 to 1999, that implied actual consumption, and the entire amount of 13 years could not be add in just one year; further, mere non-maintenance of the cannot form the basis of rejection of the assessee’s books of accounts.

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