https://www.taxtmi.com/highlights?id=32532 Penalty u/s 271(1)(c) - undervaluation of value of closing stock of diamond by applying average rates - the closing stock of this assessment year would become the opening stock of the next year and ultimately it has got no effect on the taxes payable to Revenue - No penalty - AT en-us Sat, 24 Dec 2016 07:56:12 +0530 Sat, 24 Dec 2016 07:56:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=32532 Penalty u/s 271(1)(c) - undervaluation of value of closing stock of diamond by applying average rates - the closing stock of this assessment year would become the opening stock of the next year and ultimately it has got no effect on the taxes payable to Revenue - No penalty - AT Highlights Income Tax Sat, 24 Dec 2016 07:56:12 +0530 https://www.taxtmi.com/highlights?id=32532