No Income Tax Addition When Expenses are Shown under WIP and not added in Trading Account: ITAT [Read Order]

income - tax - addition - WIP - ITAT - TAXSCAN

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench consisting of Amit Shukla, Judicial Member and Amarjit Singh, Accountant Member held that no income tax addition can be made when expenses are shown under Work in Progress (WIP) and not added in trading account. Return of income declaring total income was filed by the assessee, Vipin…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹1199 + GST for 1 year

Subscribe Now

taxscan-loader