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Income Tax - Highlights / Catch Notes

Home Highlights March 2013 Year 2013 This

Valuation of the closing stock - method of valuing the slow ...


High Court Endorses Valuation of Obsolete Stock Below Cost for Income Tax in India, Aligns with Global Practices.

March 19, 2013

Case Laws     Income Tax     HC

Valuation of the closing stock - method of valuing the slow moving and obsolescent stock at a price below the cost was a recognized method in other countries and can be properly followed in India too - HC

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