Unexplained reduction in closing work in progress - As there was ...

Double Disallowance Issue Arises from Change in Accounting Standards from AS 7 to AS 9; Needs Rectification.

May 8, 2021

Case Laws Income Tax AT

Unexplained reduction in closing work in progress - As there was a difference on account of change in following of accounting standard from AS 7 to AS 9 in the valuation of closing work in progress and that was already disallowed by AO in his order by observing as follows and once again disallowing this difference amounting to double disallowance, which should be disallowed - AT

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Unexplained reduction in closing work in progress - As there was ...

Double Disallowance Issue Arises from Change in Accounting Standards from AS 7 to AS 9; Needs Rectification.

May 8, 2021

Case Laws Income Tax AT

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