https://www.taxtmi.com/caselaws?id=68187 The court upheld the additions of Rs. 9,05,184 and Rs. 1,500 due to overvaluation of closing stock and telephone expenses, respectively. However, the addition of Rs. 58,700 on account of interest was deleted. The disallowance of loss on the sale of a car was upheld, considering it as a capital loss. The levy of interest under Sections 139(8) and 217 was also deleted. en-us Fri, 16 May 1997 00:00:00 +0530 Thu, 17 Mar 2011 14:57:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68187 The court upheld the additions of Rs. 9,05,184 and Rs. 1,500 due to overvaluation of closing stock and telephone expenses, respectively. However, the addition of Rs. 58,700 on account of interest was deleted. The disallowance of loss on the sale of a car was upheld, considering it as a capital loss. The levy of interest under Sections 139(8) and 217 was also deleted. Case-Laws Income Tax Fri, 16 May 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68187