Revision u/s 263 - Enhancement of valuation of closing stock - ...

Income Tax

May 13, 2021

Revision u/s 263 - Enhancement of valuation of closing stock - assessee could not point out any defect or discrepancy in the recomputation made by Pr. CIT for computation of closing stock by adopting FIFO method. As we have already observed that there is no enquiry by the AO on this issue in the assessment order, therefore, in our considered view, the Ld. Pr. CIT was correct in holding the assessment as erroneous and prejudicial to the interest of the Revenue - AT

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Revision u/s 263 - Enhancement of valuation of closing stock - ...

Income Tax

May 13, 2021

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