Reassessment Proceedings on Inventory Provision Deemed Revenue Neutral Due to Consistent Tax Rates and Increased Income.

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....Validity of initiation of reassessment proceedings - provision made for slow/non-moving inventory - when the assessee is paying tax at the same rate as in the year under consideration and rather declared more than three times of income to tax in the subsequent year then this issue is revenue neutral and is entirely academic in nature. - AT....