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2013 (9) TMI 878 - ALLAHABAD HIGH COURTChange in method of closing stock - AO took the levy sugar and free sugar at the same price - Held that:- Quota is fixed by the Government every year and sales are made accordingly. Since there is no loss in the present year as well as in the subsequent year, there will be no impact of any change method of the book result. In view of the regular method adopted by the assessee in the past and accepted by the department, the method of valuation can not be changed during the assessment year under consideration. No reason has been given by the A.O. for changing the said method – Addition made is deleted – Decided against the Revenue.
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