Dunlop Traders (P) Ltd. is engaged in trade of textile items. On the eve of the Diwali, it sold suitings and shirtings to its employees at cost. The market value of those goods was ₹1,60,000. The cost price ₹1,20,000. Th
CS Executive · Tax Laws and Practice · PYQS · December 2019
Dunlop Traders (P) Ltd. is engaged in trade of textile items. On the eve of the Diwali, it sold suitings and shirtings to its employees at cost. The market value of those goods was ₹1,60,000. The cost price ₹1,20,000. The amount liable for adjustment in its total income would be :
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Income Tax
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