https://www.taxtmi.com/acts?id=31816 The substitution prescribes that for business income purposes inventory and related transactions be valued per income computation and disclosure standards, generally at lower of actual cost or net realisable value, with taxes, duties, cesses or fees actually paid included in valuation. Securities not listed or irregularly quoted are valued at initial actual cost; other securities are valued category-wise at lower of cost or net realisable value. An explanation deems payments described as tax, duty, cess or fee to include such amounts notwithstanding any consequential rights. en-us Thu, 01 Feb 2018 17:14:51 +0530 Thu, 01 Feb 2018 17:14:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=31816 The substitution prescribes that for business income purposes inventory and related transactions be valued per income computation and disclosure standards, generally at lower of actual cost or net realisable value, with taxes, duties, cesses or fees actually paid included in valuation. Securities not listed or irregularly quoted are valued at initial actual cost; other securities are valued category-wise at lower of cost or net realisable value. An explanation deems payments described as tax, duty, cess or fee to include such amounts notwithstanding any consequential rights. Act-Rules Bills Thu, 01 Feb 2018 17:14:51 +0530 https://www.taxtmi.com/acts?id=31816