Revaluation of closing stock routed through profit and loss ...

High Court Rules: Revaluation of Closing Stock and Fixed Assets Not Taxable for Assessee's Income.

March 24, 2017

Case Laws Income Tax HC

Revaluation of closing stock routed through profit and loss account - revaluation of Fixed Assets does not lead to any taxable income of an Assessee - HC

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Revaluation of closing stock routed through profit and loss ...

High Court Rules: Revaluation of Closing Stock and Fixed Assets Not Taxable for Assessee's Income.

March 24, 2017

Case Laws Income Tax HC

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Undervaluation of closing stock - non inclusion of excise duty into computation - addition to the income on the ground of undervaluation of the closing stock was wrong - SC

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The summary highlights the key difference between the scope of total income under the Income Tax Act and the Black Money (Undisclosed Foreign Income and Assets) and...

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