Income Tax | AO Can’t Assign Imaginary Scrap Value to Obsolete Stock: ITAT Chandigarh

ITAT Chandigarh allows ₹59.79 crore obsolete stock write-off where lower-of-cost-or-NRV valuation was consistently followed and Revenue lacked valuation evidence. The post AO Can’t Assign Imaginary Scrap Value to Obsolete Stock: ITAT Chandigarh appeared first on TaxGuru .