https://www.taxtmi.com/caselaws?id=207661 The Tribunal reduced the addition to the respondent's income due to stock valuation discrepancies from Rs. 25,89,823 to Rs. 6,77,600. It adjusted the stock value based on discounted sale prices rather than tag prices, considering the respondent's practice of offering significant discounts. The profit margin for cost price calculation was set at 20% instead of 10%, resulting in a revised stock valuation of Rs. 72,60,000. The Tribunal's decision was supported by an analysis of the respondent's sales practices and profit margins, providing a fair approach to determining income tax liability. en-us Mon, 04 Apr 2011 00:00:00 +0530 Tue, 20 Dec 2011 10:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207661 The Tribunal reduced the addition to the respondent's income due to stock valuation discrepancies from Rs. 25,89,823 to Rs. 6,77,600. It adjusted the stock value based on discounted sale prices rather than tag prices, considering the respondent's practice of offering significant discounts. The profit margin for cost price calculation was set at 20% instead of 10%, resulting in a revised stock valuation of Rs. 72,60,000. The Tribunal's decision was supported by an analysis of the respondent's sales practices and profit margins, providing a fair approach to determining income tax liability. Case-Laws Income Tax Mon, 04 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207661