[aaykarbhavan] Addition deleted as there was no error in method consistently followed for valuation of closing stock

Addition deleted as there was no error in method consistently followed for valuation of closing stock

March 25, 2014[2014] 42 taxmann.com 443 (Allahabad)

IT : In absence of any error in method of valuation of closing stock, which had been consistently followed, addition made on account of under valuation of closing stock was not justified

IT : Guest house expenses is not business expenditure, thus, not liable to deduction

 

Regards

Prarthana Jalan

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