Valuation of Stock
Last updated: 19 February 2008
Court :
Supreme Court
Brief :
Whether A.O. was justified in invoking section 145 to value closing stock at cost or market price which ever is lower where assessee had adopted the policy of valuing its closing stock at market price only.
Citation :
Sanjeev Woollen Mills Vs. CIT
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Rahul Tibrewal
Published in Income Tax
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