ITAT Remands Inventory Write-Off Dispute Due to Non-Consideration of Evidence

Ador Welding Limited Vs DCIT (ITAT Mumbai)

The appeal concerns an assessee challenging the order passed by the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, under section 250 of the Income Tax Act for Assessment Year 2018-19. The primary dispute relates to the disallowance of ₹1,21,21,767 under section 37(1), arising from a reduction in the value of opening stock due to the assessee’s transition to Ind AS during FY 2017-18. The assessee contended before the appellate authorities that the reduction was a mandatory accounting adjustment under Ind AS 2 and

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