A case where assessee is governed by the provision of sec.44ab and gets his books audited. The closing stock has been valued at cost and as certified by the management.During the course of assessment the a.o. asks for quantitative details of stock. The assessee is unable to submit the same as the same has not been maintained. It has also been mentioned in the audit report that "considering the nature of business it is not possible to maintain stock records." What is the remedy to the assessee and is there any damage which the a.o. can do for non submission of quantitative details of stock???
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