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Goods lying at port ready for shipment are stocks in hand which can be valued at cost or MRP; SLP dismissed

October 9, 2019[2019] 109 145 (SC)/[2019] 266 Taxman 187 (SC)

INCOME TAX: Where High Court upheld Tribunal's order holding that since goods ready for shipment had not been transferred to foreign buyers, value of those goods could be included in stock in hand at cost or market price, at option and as per regular practice of assessee was to be dismissed
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