Revenue's Reopening of Assessment Challenged Over FIFO Method; Potential Violation of Income Tax Act Sections 145/145A.

Revenue's Reopening of Assessment Challenged Over FIFO Method; Potential Violation of Income Tax Act Sections 145/145A. https://www.taxtmi.com/highlights?id=33146 Reopening of assessment - Revenue has not been able to bring on record that how by following FIFO method of valuation of inventory based on cost, the profits of the assessee could not be computed correctly so as that it infringes on Section 145/145A - AT en-us Sat, 04 Feb 2017 12:43:50 +0530 Sat, 04 Feb 2017 12:43:50 +0530 TaxTMI RSS Generator Revenue's Reopening of Assessment Challenged Over FIFO Method; Potential Violation of Income Tax Act Sections 145/145A. https://www.taxtmi.com/highlights?id=33146 Reopening of assessment - Revenue has not been able to bring on record that how by following FIFO method of valuation of inventory based on cost, the profits of the assessee could not be computed correctly so as that it infringes on Section 145/145A - AT Highlights Income Tax Sat, 04 Feb 2017 12:43:50 +0530 https://www.taxtmi.com/highlights?id=33146