https://www.taxtmi.com/caselaws?id=210845 The appeal of the revenue and Cross Objections filed by the assessee were dismissed. The CIT(A) upheld findings on the valuation of stock and disallowance under Section 36(1)(iii) of the Income-tax Act, 1961. The Revenue's challenges on the additions related to under-valuation of stock and interest on advances were dismissed. The CIT(A) found in favor of the assessee, confirming consistent accounting methods and commercial expediency in the transactions, leading to the dismissal of the Revenue's contentions on all issues. en-us Wed, 04 Jan 2012 00:00:00 +0530 Tue, 14 Feb 2012 15:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210845 The appeal of the revenue and Cross Objections filed by the assessee were dismissed. The CIT(A) upheld findings on the valuation of stock and disallowance under Section 36(1)(iii) of the Income-tax Act, 1961. The Revenue's challenges on the additions related to under-valuation of stock and interest on advances were dismissed. The CIT(A) found in favor of the assessee, confirming consistent accounting methods and commercial expediency in the transactions, leading to the dismissal of the Revenue's contentions on all issues. Case-Laws Income Tax Wed, 04 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210845