Penalty u/s 271(1)(c) - undervaluation of value of closing stock ...

No Penalty for Diamond Stock Undervaluation as Tax Impact Neutral Over Assessment Years u/s 271(1)(c.

December 24, 2016

Case Laws Income Tax AT

Penalty u/s 271(1)(c) - undervaluation of value of closing stock of diamond by applying average rates - the closing stock of this assessment year would become the opening stock of the next year and ultimately it has got no effect on the taxes payable to Revenue - No penalty - AT

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Penalty u/s 271(1)(c) - undervaluation of value of closing stock ...

No Penalty for Diamond Stock Undervaluation as Tax Impact Neutral Over Assessment Years u/s 271(1)(c.

December 24, 2016

Case Laws Income Tax AT

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