https://www.taxtmi.com/caselaws?id=206461 The High Court allowed the appeal, finding that the Assessing Officer should have followed the same valuation principle for subsequent years after rejecting the changed method for the Assessment Year 1986-87. The court held that the mistake was apparent and warranted rectification under Section 154. The Tribunal's decision was set aside, and the matter was remanded for reassessment of returns for the subsequent years by treating closing stock of previous years as opening work-in-progress. en-us Fri, 29 Apr 2011 00:00:00 +0530 Sat, 15 Dec 2012 11:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206461 The High Court allowed the appeal, finding that the Assessing Officer should have followed the same valuation principle for subsequent years after rejecting the changed method for the Assessment Year 1986-87. The court held that the mistake was apparent and warranted rectification under Section 154. The Tribunal's decision was set aside, and the matter was remanded for reassessment of returns for the subsequent years by treating closing stock of previous years as opening work-in-progress. Case-Laws Income Tax Fri, 29 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206461