Addition made u/s 145A of the Income Tax Act – Excise duty ...

Income Tax

November 1, 2013

Addition made u/s 145A of the Income Tax Act – Excise duty excluded in the closing stock – After necessary adjustments made by the assessee, in pursuance of the guidance note issued by the ICAI, there is no difference in the net result from taxation point of view - AT

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Addition made u/s 145A of the Income Tax Act – Excise duty ...

Income Tax

November 1, 2013

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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...

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Addition made u/s 145A - adjustment of closing stock value with Excise duty amount - Compliance of provisions of sec. 145A in part only, would give misleading result. - AT

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...

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