HELLO FRIENDS, MY CLIENT HAS A BIG DAIRY FARM
INCOME SOURCE IS SALE OF MILK
BUT THEY HAVE LOT OF CATTLES PURCHASE AND SALE OF CATTLES IS ALSO THEIR BUSINESS ACTIVITY
NOW PLEASE HELP ME WHETHER PUCHASE OF CATTLES IS THEIR STOCK OR IT IS THE CAPITAL EXPENDITURE
AND WHAT IS THE TREATEMENT OF PROFIT OR LOSS
PLS TELL ME.
i think in this case we can treat this as trading purchase and sale and consider under business n proff
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CAclubindia
