https://www.taxtmi.com/caselaws?id=121751 The Tribunal allowed the Revenue's appeal, determining that the deletion of the addition by the CIT(A) was incorrect. The Tribunal held that the reduction of the opening stock was not in accordance with standard accounting practices and that Section 41(1) of the Income-tax Act, 1961 applied, leading to the amount being treated as income of the assessee. en-us Fri, 28 Nov 2008 00:00:00 +0530 Mon, 06 Aug 2012 10:50:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121751 The Tribunal allowed the Revenue's appeal, determining that the deletion of the addition by the CIT(A) was incorrect. The Tribunal held that the reduction of the opening stock was not in accordance with standard accounting practices and that Section 41(1) of the Income-tax Act, 1961 applied, leading to the amount being treated as income of the assessee. Case-Laws Income Tax Fri, 28 Nov 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121751