Court Rules Closing Stock Not a Profit Source for Tax Valuation; Aligns with Established Case Law Principles.
X X X X Extracts X X X X
X X X X Extracts X X X X
....Valuation of closing stock - method of valuation - no addition could be made towards value of stock because the closing stock cannot be construed as a source of profit for the assessee. - AT....
TaxTMI