Case Law Details
Case Name : DCIT Vs Hitech Plast Containers (I) Ltd. (ITAT Mumbai)
Related Assessment Year : 2004- 2005
Courts :
All ITAT ITAT Mumbai
RELEVANT PARAGRAPH
6. We have verified the orders and heard:the rival contentions. There is no dispute that there was a qualification in the auditors report whereby the auditors had mentioned Rs.27,47,258/ – as the adjustment required u/s. 145A of the Act for the purpose of valuing the closing stock. Copy of the computation statement for the relevant Assessment Year filed by the assessee show that it had made a suo motu addition of such amount to its profits. However deduction of an equivalent sum was also claimed relying on Section 43A of the Act. As for the adjustments required u/s.145...
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