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Income Tax - Highlights / Catch Notes

Home Highlights November 2014 Year 2014 This

Addition of valuation of closing stock – The method of ...


Assessing Officer Cannot Change Stock Valuation Method Without Proving It Incorrect or Inconsistent with Accounting Principles.

November 21, 2014

Case Laws     Income Tax     AT

Addition of valuation of closing stock – The method of accounting cannot be substituted by the AO merely because it is unsatisfactory. - AT

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