Supreme Court · 2007 INSC 634 · Decided 18 May 2007
Commissioner of Income Tax, Udaipur v. M/S. Hindustan Zinc LTD.
- Court
- Supreme Court of India
- Citation
- 2007 INSC 634 · [2007] 7 S.C.R. 302
- Case number
- CIVIL APPEAL No. 1179/2007
- Decided
- 18 May 2007
- Bench
- S.H. KAPADIA, B. SUDERSHAN REDDY (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
Headnote
OF INCOME TAX, UDAIPUR v. MIS. HINDUSTAN ZINC LTD. MAY 18, 2007 B [S.H. KAPADIA AND B. SUDERSHAN REDDY,JJ.] .Jncome Tax Act, 1961; Valuation of closing stock-Exporting of accumulated stock of zinc C concentrate by assessee-a. Government Company-Fixing of International Price lower than the commodity in question at net realizable value at the domestic prices-International D prices of the commodity were lower than the domestic prices-Under the circumstances, Auditor rightly observed in his report that had the net realizable value stood estimated in accordance with 1he past
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