stock writeoff
This query is : Resolved
12 April 2010
If a pvt ltd company which is in Chemical sale business & sale of tractors is in liquidation, can we writeoff the closing stock to avoid tax liability.?
Please advise........
Please advise........
14 April 2010
stock can be written off only when the same cannot be sold.
IT may disallow when proper justofocation is not provided for write off
IT may disallow when proper justofocation is not provided for write off
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