There is neutral effect of writing off the closing stock & WIP ...

Claim of Loss Allowed as Writing Off Stock Neutralizes Assessee's Profitability Due to Overvaluation Impact.

April 10, 2018

Case Laws Income Tax AT

There is neutral effect of writing off the closing stock & WIP on the profitability of the assessee as it has consequential effect. Indeed the profit of the current year shall come down by the amount written off during the year on account of over valuation of closing stock - claim of loss allowed. - AT

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There is neutral effect of writing off the closing stock & WIP ...

Claim of Loss Allowed as Writing Off Stock Neutralizes Assessee's Profitability Due to Overvaluation Impact.

April 10, 2018

Case Laws Income Tax AT

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