BG EXPLORATION & PRODUCTION INDIA LIMITED,MUMBAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, DDIT/ADIT (INTERNATIONAL TAXATION), CIRCLE -1, DEHRADUN

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

disallowing inventory written off of Rs.25,28,05,028 on the basis that the Appellant submitted only internal documents which do not suffice for allowance of expenditure. 7 9.2 The learned AO / DRP erred in not appreciating that amount of obsolete inventoiy written off was debited to the Profit and Loss Account which has been audited by an independent auditor