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Income Tax - Highlights / Catch Notes

Home Highlights November 2013 Year 2013 This

Valuation of stock – discrepancy between stock statements filed ...


Stock Valuation Discrepancy: Income Assessment Requires Corroborating Evidence Beyond Statements Filed with Bank.

November 29, 2013

Case Laws     Income Tax     AT

Valuation of stock – discrepancy between stock statements filed in Bank and stock shown in books of accounts - The assessee's income is to be assessed not on the basis of the statement given to a third party, unless there is material to corroborate - AT

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