Allowability of write off of obsolete and non-usable inventory ...

July 31, 2019

Case Laws Income Tax AT

Allowability of write off of obsolete and non-usable inventory which is 10% of the total inventory - there can be no denial that assessee is entitled to claim loss towards obsolete stock in a given year, it is also the corresponding duty of the assessee to prove the existence of such obsolete material by direct or circumstantial evidences - the assessee has totally failed in its corresponding duties - disallowance restricted to 5%

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Allowability of write off of obsolete and non-usable inventory ...

July 31, 2019

Case Laws Income Tax AT

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