https://www.taxtmi.com/highlights?id=47639 Revision u/s 263 - under valuation of closing stock - as a matter of prudence stocks are valued at lower of the cost or the realizable value - increase/decrease in realizable value due to foreign exchange fluctuation has no bearing on valuation of closing stock and will be recover when the stocks are sold - revision order passed by PCIT is without any basis, hence, set aside en-us Tue, 02 Jul 2019 07:37:47 +0530 Mon, 01 Jul 2019 18:06:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=47639 Revision u/s 263 - under valuation of closing stock - as a matter of prudence stocks are valued at lower of the cost or the realizable value - increase/decrease in realizable value due to foreign exchange fluctuation has no bearing on valuation of closing stock and will be recover when the stocks are sold - revision order passed by PCIT is without any basis, hence, set aside Highlights Income Tax Tue, 02 Jul 2019 07:37:47 +0530 https://www.taxtmi.com/highlights?id=47639