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Income Tax - Highlights / Catch Notes

Home Highlights July 2016 Year 2016 This

Valuation of closing stock - method of valuation - no addition ...


Court Rules Closing Stock Not a Profit Source for Tax Valuation; Aligns with Established Case Law Principles.

July 9, 2016

Case Laws     Income Tax     AT

Valuation of closing stock - method of valuation - no addition could be made towards value of stock because the closing stock cannot be construed as a source of profit for the assessee. - AT

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