Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights August 2013 Year 2013 This

Valuation of Closing stock - Obligation to handover the built ...

Income Tax

August 21, 2013

Valuation of Closing stock - Obligation to handover the built up area admeasuring 1797.25 sq.mtr. was on the assessee from the very beginning. At the end of the year, the built up area to such an extent could not have been considered as the assessee's stock in trade - AT

View Source

 


 

You may also like:

  1. Under valuation of closing stock of rice - improper maintenance of stock register by the assessee-firm - the method of valuation was adopted by the Ld. AO in closing...

  2. Addition on valuation of closing stock - excise duty on closing stock of its finished goods - exclusive VS inclusive method - although the method of valuation of stock...

  3. Deduction u/s 80-IB(10) - The balcony areas, which were added as forming part of the built of area of the 16 flats which were considered as exceeding the built up area...

  4. Valuation of closing stock - There is no any purchase by the assessee during the year, and the sale made by the assessee is out of opening stock only. In the closing...

  5. Valuation of closing stock - gold and jewellery - AO cannot change the method which was not recognized method as per the prescribed standards for valuation of closing...

  6. Valuation of closing stock - the action of the AO of changing the method of valuation of closing stock without pointing out any reason for the rejection of valuation of...

  7. Inclusion of Excise Duty in valuation of closing stock - AO was right in adding the excise duty in the valuation of the closing stock - HC

  8. Revision u/s 263 - valuation of closing stock, non increasing of closing stock by proportionate other direct expenses - The alleged under valuation of closing stock is a...

  9. Difference in stock valuation - valuation of the closing stock - LIFO or FIFO method - It is an admitted case that the assessee has been continuously adopting the LIFO...

  10. Revision u/s 263 - under valuation of closing stock - as a matter of prudence stocks are valued at lower of the cost or the realizable value - increase/decrease in...

  11. Allowability of excise duty u/s 43B r.w. section 145A - valuation of closing stock - MODVAT credit cannot be reduced from the value of opening or closing stock - HC

  12. LTCG - Long term capital assets or short term - Period of holding of assets - Part of the property (i.e. 66.92 sq.mtr. outof 302.86 sq.mtr.) held with the assessee less...

  13. Valuation of closing stock of incentive sugar (free sugar) - One cannot have a stock valuation which converts a capital receipt into revenue income - SC

  14. Valuation of closing stock - provisions of section 145A has overriding effect on the provisions of section 145 - the said provisions are applicable not only on closing...

  15. Deduction u/s 80IB - Private terrace area should be included in the built-up area of the flats for the purpose of working out statutory extent of the built-up area - AT

 

Quick Updates:Latest Updates