Bombay High Court Allows Change in Stock Valuation Method and Grants Export Market Development Allowance for Packing Expenses in Income Tax Reference. The court held that a bona fide change to a more scientific method of stock valuation is permissible, and packing expenses for exports qualify for deduction under Section 35B of the Income Tax Act, 1961.
8 Sep 2016The case involves an Income Tax Reference under Section 256(1) of the Income Tax Act, 1961, by the Income Tax Appellate Tribunal for the opinion of th...





