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 September 2018 Year 2018 This

Addition u/s 145A - adjustment of closing stock of the assessee ...

Income Tax

September 29, 2018

Addition u/s 145A - adjustment of closing stock of the assessee by duty and taxes etc. in the form of CENVAT - In the absence of any impact on the profitability of the assessee per se due to exclusive method of accounting followed, no addition can be made.

View Source

 


 

You may also like:

  1. Adjustment of Excise Duty on purchase, sales and closing stock u/s 145A are required to be made - AT

  2. Allowability of excise duty u/s 43B r.w. section 145A - valuation of closing stock - MODVAT credit cannot be reduced from the value of opening or closing stock - HC

  3. Valuation of Closing Stock - adjustment of excise duty and VAT - addition - assessee contended aforesaid inclusion to be revenue-neutral - Decided in favor of assessee - AT

  4. 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...

  5. Whether excise duty is excluded form value closing stock - while disturbing the value of the closing stock the assessing authority could not change the method of...

  6. Reopening of assessment - Applicability of section 145A - valuation of closing stock - Not open for AO to reexamine the entire issue which would be merely on the change of opinion.

  7. Undervaluation of closing stock - non inclusion of excise duty into computation - addition to the income on the ground of undervaluation of the closing stock was wrong - SC

  8. Valuation of closing stock – Addition of proportionate transport charges – adjustment sought to be made is revenue neutral and at best may result in preponement or...

  9. 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...

  10. 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

 

Quick Updates:Latest Updates