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2018 (6) TMI 29 - AT - Income TaxUndervaluation of the closing stock of land - change in method of valuation - whether the value of land under litigation/encroachment cannot be adopted at Nil? - Held that:- Since the land is under encroachment and litigation it cannot be valued at the cost or prevailing market price, rather its value would be very less due to defects and deficiency of not available to the assessee for immediate use - also it cannot be valued at nil - thus value is to be determined on the basis of the actual status in each case and it cannot be valued applying a standard para-meter - hence the issue is set aside to the record of the AO for fresh adjudication as relying of assessee's own case [2011 (6) TMI 954 - ITAT JAIPUR]- Assessee appeal allowed for statistical purpose.
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