https://www.taxtmi.com/caselaws?id=209125 The Tribunal partly allowed the appeal, deleting the addition of Rs. 4,80,076/- from the total income, while upholding the addition of Rs. 5,18,289/- for the reduction in the value of inventory. The Tribunal emphasized that the CIT(Appeals) was justified in changing the basis of addition and that the revenue's argument did not amount to making a fresh case. The Tribunal also noted that tax cases aim to determine the correct liability of the assessee, and the Tribunal has the power to correct errors in the orders of lower authorities. en-us Fri, 29 Jan 2010 00:00:00 +0530 Wed, 31 Jul 2013 10:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209125 The Tribunal partly allowed the appeal, deleting the addition of Rs. 4,80,076/- from the total income, while upholding the addition of Rs. 5,18,289/- for the reduction in the value of inventory. The Tribunal emphasized that the CIT(Appeals) was justified in changing the basis of addition and that the revenue's argument did not amount to making a fresh case. The Tribunal also noted that tax cases aim to determine the correct liability of the assessee, and the Tribunal has the power to correct errors in the orders of lower authorities. Case-Laws Income Tax Fri, 29 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209125