Difference between final amount of purchase & its provision created based on certification to be adjust in P&L a/c

INCOME TAX: Where assessee-company made a provision for expenditure towards copper concentrate purchase on basis of provisional invoices and when final amount was realised at end of year, difference in provision made by assessee and final amount of purchase was adjusted in credit or debit side of profit and loss account accordingly, since above provision was made on basis of London metal exchange prices for copper concentrate and such provision was certified by auditors as well as approved by sh

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