IT authority cannot direct assessee to maintain its accounts in a particular manner

DCIT Vs. Rustomjee Ever shine Joint Venture Private Limited (ITAT Mumbai)

We may recapitulate the following observations of the Hon’ble Supreme Court in Investment Ltd. Vs. CIT(supra) :

“A taxpayer is free to employ, for the purpose of his trade, his own method of keeping accounts, and for that purpose to value his stock-in-trade either at cost or at market price. A method of accou

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