Minor Adjustments made to Valuation of Goods not amount to Under-Valuation of Stock: ITAT [Read Order]

Adjustments - Goods - Stock - ITAT - taxscan

The Income Tax Appellate Tribunal Ahmedabad Bench presided by Ms. Annapurna Gupta, Accountant Member and Mr. Mahavir Prasad, Judicial Member has held that minor adjustments made to valuation of goods not amount to under-valuation of stock. The appellant, Chirai Salt (India) Pvt. Ltd. is engaged in the business of manufacturing of Refined and Free-flow Salt…

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