If stocks belong under detoriate condition , assessee wants to write off such stock in current financial year. Assessee having paper merchant business also going to cease such business in current year . Is it feasible to show nil figure of stock balance according to AS 2 in P&L A/c ? NRV from such stocks wear found to be nil.
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Write-off stock as per as 2
Replies (1)
Yes stock can be written off..
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