Addition on account of valuation of closing stock by following ...

Case Laws Income Tax

November 27, 2015

Addition on account of valuation of closing stock by following FIFO method - assessee had miserably failed to demonstrate that it was following continuously weighted average cost method for the purpose of valuation - additions confirmed - AT

View Source

← Previous Next →

Addition on account of valuation of closing stock by following ...

Case Laws Income Tax

November 27, 2015

You may also like:

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...

Disallowance on account of valuation of stock u/s 145A - assessee is following exclusive method of accounting for valuing closing stock wherein unutilised MODVAT/Cenvat...

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...

The case involves a challenge to the amendment in Section 145A, making it mandatory to adopt FIFO or weighted average cost method for valuing closing and opening stock....

Additions on account of suppression of closing stock - defects in the LIFO method adopted - AO, is wrong in disturbing the method of accounting regularly employed by the...

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...

Valuation of stock - addition u/s 145A - following the accounting standard, assessee has adopted exclusive method of accounting with regard to the recording of purchase,...

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...

Valuation of closing stock - India AS-2 - The FIFO method, which the AO preferred, is one of the Accounting Standard 2 method. However, equally the weighted average...

Dual method of accounting for valuation of stock of sugar - The closing stock as well as the opening stock would reflect this dual system of valuation followed by the...

Addition on account of lump-sum lease charges received - lease transaction does not give an absolute ownership or title as it can be cancelled and re-entered - assessee...

Method of accounting - Change in method valuation of closing stock – if there is a bona fide change in the method of accounting which is consistently followed, no...

Addition on account of undervaluation of closing stock - difference in the stock statement given by the assessee to State Bank of India and as recorded in the books of...

Valuation of closing stock - notwithstanding the fact that the opinion of the Chartered Accountants of India was expressed in the 'guidance note", which had not attend...

Addition u/s.145A - though the assessee is following the exclusive method of accounting which is contrary to the provisions of section 145A but the effect of the same...

Quick Updates: