https://www.taxtmi.com/caselaws?id=208148 The case involved issues concerning the valuation of unaccounted stock, classification of surrendered income, separate profit calculation for scrap sales, excess wastage impact on trading results, and application of net profit rate. The outcome resulted in the remand of the valuation of unaccounted stock issue for a fresh speaking order, classification of surrendered income as "Income from Other Sources," dismissal of the revenue's ground for separate profit calculation for scrap sales, remand of the excess wastage impact issue for re-examination applying the preceding year's net profit rate, and direction to apply the preceding year's net profit rate for the application of net profit rate. Both appeals of the revenue and the assessee were partly allowed for statistical purposes. en-us Tue, 23 Nov 2010 00:00:00 +0530 Fri, 06 Jan 2012 09:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208148 The case involved issues concerning the valuation of unaccounted stock, classification of surrendered income, separate profit calculation for scrap sales, excess wastage impact on trading results, and application of net profit rate. The outcome resulted in the remand of the valuation of unaccounted stock issue for a fresh speaking order, classification of surrendered income as "Income from Other Sources," dismissal of the revenue's ground for separate profit calculation for scrap sales, remand of the excess wastage impact issue for re-examination applying the preceding year's net profit rate, and direction to apply the preceding year's net profit rate for the application of net profit rate. Both appeals of the revenue and the assessee were partly allowed for statistical purposes. Case-Laws Income Tax Tue, 23 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208148