SMITHKLINE BEECHAM CONSUMER BRANDS LTD vs. COMMISSIONER OF INCOME TAX PATIALA
ITR/62/1995HC Punjab & Haryana27 Nov 2025
Section 143Section 35BSection 40Section 40A(5)
disallowed few expenses as well as
assessed closing stock at the value different from value declared by assessee.
The matter reached Tribunal through First Appellate Authority. The Tribunal
partially allowed appeal of the assessee. The Tribunal decided following
questions against the assessee:-
(i)
The assessee could change method of determination of
value of closing stock, however, ordered
