Saturday, September 21, 2019

SLP dismissed against ruling deleting addition in respect of stock as assessee followed LIFO method

INCOME TAX: Where High Court upheld Tribunal's order setting aside addition made on account of undervaluation of stock by taking a view that assessee had been following LIFO method of valuation of stock which was recognized in law, SLP filed against High Court's order was to be dismissed

from www.taxmann.com Latest Case Laws https://ift.tt/31GwKmC

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...