1.what is the difference between inventory and stock?
2.what is plant in plant and machinery?what is plant and machinery?
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Plz help me...............?
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| Originally posted by : sakshi jain | ||
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1.what is the difference between inventory and stock?
Refer to file attached below. Plant means something, which is required for the purpose of carrying on business/enterprise. Plant must be something, which is used by the assessee in aid of the object or purpose of the business. It is not only the means of processing the end-product, but it includes the entire operation undertaken for the purpose of obtaining the end-product - CIT v. Birla Jute & Industries Ltd. |
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