https://www.taxtmi.com/caselaws?id=121570 The Tribunal partially allowed the appeal for AY 1996-97, directing the AO to verify the claimed loss and adjust the surplus material value in the opening stock of subsequent years. For AY 1997-98, it allowed the provision for leave encashment, aligning with the Supreme Court's ruling, and restored the prior period expenditure issue to the AO for verification. The appeal was treated as allowed for statistical purposes, requiring further verification by the AO. en-us Wed, 18 Feb 2009 00:00:00 +0530 Sat, 28 Oct 2023 10:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121570 The Tribunal partially allowed the appeal for AY 1996-97, directing the AO to verify the claimed loss and adjust the surplus material value in the opening stock of subsequent years. For AY 1997-98, it allowed the provision for leave encashment, aligning with the Supreme Court's ruling, and restored the prior period expenditure issue to the AO for verification. The appeal was treated as allowed for statistical purposes, requiring further verification by the AO. Case-Laws Income Tax Wed, 18 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121570