https://www.taxtmi.com/caselaws?id=157910 The Tribunal partly allowed the assessee's appeal by upholding the addition of Rs. 46,16,251 to the closing stock valuation but directed it to be considered as the opening stock value for the next year. The Tribunal also set aside the CIT(A)'s decision to enhance income by estimating net profit at 4% and instructed the AO to recalculate interest under Sections 234B and 234C based on the Tribunal's order on income determination. en-us Fri, 06 Aug 2010 00:00:00 +0530 Mon, 21 Aug 2023 17:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=157910 The Tribunal partly allowed the assessee's appeal by upholding the addition of Rs. 46,16,251 to the closing stock valuation but directed it to be considered as the opening stock value for the next year. The Tribunal also set aside the CIT(A)'s decision to enhance income by estimating net profit at 4% and instructed the AO to recalculate interest under Sections 234B and 234C based on the Tribunal's order on income determination. Case-Laws Income Tax Fri, 06 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=157910