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Income Tax - Highlights / Catch Notes

Home Highlights February 2017 Year 2017 This

Addition u/s 145A - valuation of closing stock - Since CENVAT is ...

Case Laws     Income Tax

February 17, 2017

Addition u/s 145A - valuation of closing stock - Since CENVAT is not available to the assessee then the enhancing the value of semi finished and finished goods in the closing are not warranted. - AT

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  10. The case involves a challenge to the amendment in Section 145A, making it mandatory to adopt FIFO or weighted average cost method for valuing closing and opening stock....

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