Section 145A

What section 145A does, and where it sits. This library holds no authority that turns on it.

No authority in this library turns on Section 145A. That is a statement about this library and not about the law: it means no judgment, circular or instruction held here decides a point under it. What the provision does is explained below. If you are looking for a decision on it, say so through the search box — a provision people search for and we hold nothing on is the most useful thing we can be told.

Explained in this library

What section 145a does, in plain English, before you read what the courts made of it.

Cost or market, whichever is lower — and why that is not a profit question

How do I value closing stock for tax, and can the Assessing Officer force me to value it at cost?

ICDS govern the computation, not the books — and ICDS II is where that bites first

Which of my clients do the ICDS actually bind, what do the ten standards cover, and what does ICDS II change about the way I value inventory?

The GSTR-3B mismatch notice, and what a difference actually proves

The notice compares my GST turnover with the turnover in my return and treats the difference as suppressed income. What can the officer lawfully infer from that?

The input-credit file and the assessment: neither binds the other, and both are evidence in the other

The same purchases are under an input-credit reversal in GST and a s.69C addition in income tax. Does a finding in one settle the other?