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During the course of survey in the premises of Jagan & Co. on 10.01.2019, stocks of goods purchased for 10 lakhs were found to be not recorded in the books of account. The firm has brought forward loss of Rs. 5 lakhs and incurred business loss of 2 lakhs for the year ended 31.03.2019 without considering the unaccounted stock. The tax liability of the firm including the said unaccounted purchase would be _________ (including surcharge and cess).

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The syllabus (and study weightage):
A. Advanced Direct Tax Laws 50%
B. International Taxation 30%
C. Case Study Analysis 20%


During the course of survey in the premises of Jagan & Co. on 10.01.2019, stocks of goods purchased for 10 lakhs were found to be not recorded in the books of account. The firm has brought forward loss of Rs. 5 lakhs and incurred business loss of 2 lakhs for the year ended 31.03.2019 without considering the unaccounted stock. The tax liability of the firm including the said unaccounted purchase would be _________ (including surcharge and cess).






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