Inventory

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 June 2012 sir;
how we do the inventory valution in tax audit, whether as per A.S.-2 or as per section 145A of income tax act.

CA CS Amit S. Kedia (Expert)
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16 June 2012 Section 145A shall apply for Inventory Valuation.
However, in most of the cases the amount of inventory comes same.

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