Valuation of closing stock - Even if the excise duty has not ...

Postponed Excise Duty Payment Doesn't Impact Closing Stock Valuation; Accounting System Irrelevant to Accurate Valuation.

July 23, 2018

Case Laws Income Tax HC

Valuation of closing stock - Even if the excise duty has not been paid and the assessee has postponed its payment, the valuation of the goods will not get affected. Accounting system of the assessee would be of no consequence to arrive at the true and correct valuation of the closing stock

View Source

← Previous Next →

Valuation of closing stock - Even if the excise duty has not ...

Postponed Excise Duty Payment Doesn't Impact Closing Stock Valuation; Accounting System Irrelevant to Accurate Valuation.

July 23, 2018

Case Laws Income Tax HC

You may also like:

Addition on valuation of closing stock - excise duty on closing stock of its finished goods - exclusive VS inclusive method - although the method of valuation of stock...

Inclusion of Excise Duty in valuation of closing stock - AO was right in adding the excise duty in the valuation of the closing stock - HC

Allowability of excise duty u/s 43B r.w. section 145A - valuation of closing stock - MODVAT credit cannot be reduced from the value of opening or closing stock - HC

Whether excise duty is excluded form value closing stock - while disturbing the value of the closing stock the assessing authority could not change the method of...

Under valuation of closing stock of rice - improper maintenance of stock register by the assessee-firm - the method of valuation was adopted by the Ld. AO in closing...

Valuation of closing stock - unutilized credit of CENVAT account was adjusted against the excise duty payable in respect of sales made – the question of applicability of...

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

Addition on account of difference in the closing stock valuation as per section 145A on accounting of non-inclusion of Special Additional Duty (SAD) - It is not...

Disallowance on account of valuation of stock u/s 145A - assessee is following exclusive method of accounting for valuing closing stock wherein unutilised MODVAT/Cenvat...

Valuation of closing stock - There is no any purchase by the assessee during the year, and the sale made by the assessee is out of opening stock only. In the closing...

Valuation of closing stock - gold and jewellery - AO cannot change the method which was not recognized method as per the prescribed standards for valuation of closing...

Valuation of closing stock - the action of the AO of changing the method of valuation of closing stock without pointing out any reason for the rejection of valuation of...

Addition on account of undervaluation of closing stock - difference in the stock statement given by the assessee to State Bank of India and as recorded in the books of...

Default in the payment of Central Excise Duty - Undisputedly appellants have discharged the duty as demanded in the show cause notice and confirmed against them for the...

Unexplained deposits in bank account - Amount deposited in the bank account was out of sale of various items as held by the assessee as stock in trade and since the...

Quick Updates: