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 November 2014 Year 2014 This

Valuation of closing stock - AO has adopted the rate from the ...

Income Tax

November 10, 2014

Valuation of closing stock - AO has adopted the rate from the last bill - it it is in respect of only one variety of pure basmati and, therefore, could not be taken as the basis for valuing the entire stock, which included the Pusa basmati- 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. 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...

  3. 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...

  4. 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

  5. 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...

  6. 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...

  7. 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...

  8. Regarding Tax rate wise details of closing stock as on 31st March of every year - Notification

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

  10. 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...

  11. Shares converted into stock-in-trade - Valuation adopted for conversion of investments to stock-in-trade, opening stock and closing stock - where an assessee converts...

  12. 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...

  13. Valuation of the closing stock of scrap - AO is not justified in valuing the closing stock of packing materials representing scrap based on the scrap sales made in...

  14. Undervaluation of stock - it is a revenue neutral issue because whatever addition is being made in the closing stock, it will be opening stock in the next year. If the...

  15. Valuation of closing stock - inclusion of excise duty element - AO adopted the gross method at the time of purchase, and the net method of valuation at the time of...

 

Quick Updates:Latest Updates