https://www.taxtmi.com/caselaws?id=77782 The appeal challenging the undervaluation of closing stock was dismissed as the High Court found no error in the Tribunal's decision to allow the change in accounting method. The expenses incurred in issuing bonus shares were deemed allowable as revenue expenditure based on a Supreme Court judgment. Additionally, PF/ESIC payments made within the grace period were considered timely and allowed as deductions, in line with precedents from various High Courts. The appeal was ultimately dismissed on all issues raised. en-us Tue, 09 Oct 2007 00:00:00 +0530 Mon, 19 Dec 2011 09:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=77782 The appeal challenging the undervaluation of closing stock was dismissed as the High Court found no error in the Tribunal's decision to allow the change in accounting method. The expenses incurred in issuing bonus shares were deemed allowable as revenue expenditure based on a Supreme Court judgment. Additionally, PF/ESIC payments made within the grace period were considered timely and allowed as deductions, in line with precedents from various High Courts. The appeal was ultimately dismissed on all issues raised. Case-Laws Income Tax Tue, 09 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=77782