Closing Stock for 2013-14 to Be Opening Stock for 2014-15 Under Vivad-se-Vishwas Scheme Clarification.

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Full Text of the Document

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....Valuation of closing stock - Because the assessee is playing this direction/clarification in order to get the matter stated under the Vivad-se-Vishwas Scheme, in the absence of any dispute as to the principle involved in this, we are of the considered opinion that there is no harm in issuing such clarification and we accordingly direct the authorities to treat the closing stock of the assessment year 2013-14 as the opening stock for the assessment year 2014-15. - AT....