while doing carry forward of balances during the beginning of the year, the accountant took 10 lacs as opening stock instead of 30 lacs and adjusted the balance in capital account. Assessing Officer is telling to add 20 lacs as income. what reply should be given to him so that he does not add the amount to income.
Wrong carry forward of closing stock balance
Ninad Pandit (CA Final Student) (254 Points)
23 January 2012