An assessee has filed a declaration u\/s 4 of the scheme to settle the dispute that was being contested in an appeal before the tribunal for A.Y. 2011-12 in respect of the addition made to the value of the closing stock u\/s145A and also for disallowance of expenditure on th ground that the said expenditure pertained to the subsequent year. The declaration has been accepted by the authorities and the appeal stands withdrawn as per s. 4(2)(3)(5) and s.7. The assessee has now sought relief for the deduction for the subsequent A.Y. 2012-13 on account of the increase in the value of the opening stock and the expenditure disallowed for that year consequent to the addition made and accepted for the preceding previous year A.Y. 2011-12.<\/p>\n","protected":false},"excerpt":{"rendered":"
An assessee has filed a declaration u\/s 4 of the scheme to settle the dispute that was being contested in an appeal before the tribunal for A.Y. 2011-12 in respect of the addition made to the value of the closing stock u\/s145A and also for disallowance of expenditure on th ground that the said expenditure pertained to the subsequent year. The declaration has been accepted by the authorities and the appeal stands withdrawn as per s. 4(2)(3)(5) and s.7. The assessee has now sought relief for the deduction for the subsequent A.Y. 2012-13 on account of the increase in the value of the opening stock and the expenditure disallowed for that year consequent to the addition made and accepted for the preceding previous year A.Y. 2011-12.<\/p>\n