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Income Tax - Highlights / Catch Notes

Home Highlights November 2021 Year 2021 This

Valuation of investments held as stock in trade - whether the ...

Case Laws     Income Tax

November 18, 2021

Valuation of investments held as stock in trade - whether the loss of in account of valuation of stock can indeed be allowed as a deduction in computation of business income? - The the action of the AO, which has been upheld by the learned CIT(A) in a very mechanical manner without application of mind, cannot meet our judicial approval. - Additions to be deleted - AT

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