https://www.taxtmi.com/caselaws?id=116971 The Tribunal dismissed the revenue's appeal, affirming the CIT(A)'s decision to delete the addition of Rs. 2,68,357 for the assessment year 1994-95. The Tribunal upheld the assessee's valuation method, which averaged opening stock and purchase rates, as consistent and in line with accounting standards, rejecting the Assessing Officer's application of average purchase rates. en-us Tue, 10 Jun 2003 00:00:00 +0530 Wed, 17 Jul 2024 17:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=116971 The Tribunal dismissed the revenue's appeal, affirming the CIT(A)'s decision to delete the addition of Rs. 2,68,357 for the assessment year 1994-95. The Tribunal upheld the assessee's valuation method, which averaged opening stock and purchase rates, as consistent and in line with accounting standards, rejecting the Assessing Officer's application of average purchase rates. Case-Laws Income Tax Tue, 10 Jun 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=116971