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Section 145 of Income-Tax Act, 1961
Section 145 of Income-Tax Act, 1961 deals with the topic of Method of accounting.
-  16 LNIN 34: Madras: In order to invoke section 145(3) Assessing Officer must necessarily express his dissatisfaction about correctness or completeness of accounts of assessee
- The Closing stock of an erstwhile firm converted into stock-in-trade by a proprietorship concern will have to be valued at the market value; On dissolution of a firm closing stock has to be valued on the basis of real value i.e., market value, which is independent of the fact whether or not the erstwhile partners of a dissolved firm continue to do business with assets received on dissolution  10 LNIN 126 (Delhi)