In the result of the value of the opening stock and closing stock
144C at Rs.34,62,03,611 /-and tax be determined on the same. As per 115JB the book profit is assessed at Rs. 48/49/15,364/. Issue requisite documents. Penalty proceedings under section 271(l)(c) are initiated separately for furnishing inaccurate particulars of income. 3. The assessee carried the issue in appeal before the CIT(A) who relying upon