Devaluation of stocks and spares - AS-2 - revaluation of certain ...

Revaluation of Obsolete Inventory Allowed Under AS-2 if Based on Technical Evaluation and Accounting Principles.

March 8, 2019

Case Laws Income Tax HC

Devaluation of stocks and spares - AS-2 - revaluation of certain old inventories which were obsolete and non moving items of spares - if based on technical evaluation deduction is duly allowable. - The method of revaluation cannot be faulted for reason of it having been accepted by accounting principle AS-2.

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Devaluation of stocks and spares - AS-2 - revaluation of certain ...

Revaluation of Obsolete Inventory Allowed Under AS-2 if Based on Technical Evaluation and Accounting Principles.

March 8, 2019

Case Laws Income Tax HC

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