https://www.taxtmi.com/caselaws?id=66270 Closing stock of dining leaves was revalued on the basis that older stock had become brittle, torn and mixed with newer stock, affecting its realizable value. On a broad assessment of the probabilities, the Tribunal held that the addition for alleged under-valuation was excessive and required only a limited adjustment. The sustained addition was therefore restricted to Rs. 4,000, and the balance was deleted. en-us Mon, 28 Feb 1977 00:00:00 +0530 Wed, 23 Feb 2011 12:41:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66270 Closing stock of dining leaves was revalued on the basis that older stock had become brittle, torn and mixed with newer stock, affecting its realizable value. On a broad assessment of the probabilities, the Tribunal held that the addition for alleged under-valuation was excessive and required only a limited adjustment. The sustained addition was therefore restricted to Rs. 4,000, and the balance was deleted. Case-Laws Income Tax Mon, 28 Feb 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66270