https://www.taxtmi.com/highlights?id=67444 Addition of write off of inventory - assessee could not file any evidence to prove that whether any report has been submitted to stock exchange and SEBI on this issue - Assessee has written off 100% inventory of cotton held and the value of said inventory is very high. When the assessee is taking such a drastic decisions which impacts its financial decision, it needs to report to the concerned authorities and also required to take approval from the Board of Directors and audit committee. - Additions confirmed - AT en-us Mon, 02 Jan 2023 15:15:37 +0530 Mon, 02 Jan 2023 15:15:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=67444 Addition of write off of inventory - assessee could not file any evidence to prove that whether any report has been submitted to stock exchange and SEBI on this issue - Assessee has written off 100% inventory of cotton held and the value of said inventory is very high. When the assessee is taking such a drastic decisions which impacts its financial decision, it needs to report to the concerned authorities and also required to take approval from the Board of Directors and audit committee. - Additions confirmed - AT Highlights Income Tax Mon, 02 Jan 2023 15:15:37 +0530 https://www.taxtmi.com/highlights?id=67444