https://www.taxtmi.com/caselaws?id=216457 The Supreme Court ruled in a case involving a private limited company's assessment of closing stock undervaluation for the Assessment Year 1987-88. The Court held that the addition of Rs. 16,39,000 to the assessee's income due to alleged undervaluation of closing stock was incorrect. The order of the CIT(A) upholding the assessee's position was affirmed, and the civil appeal filed by the department was dismissed without costs imposed. en-us Thu, 30 Aug 2012 00:00:00 +0530 Wed, 06 Nov 2013 17:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216457 The Supreme Court ruled in a case involving a private limited company's assessment of closing stock undervaluation for the Assessment Year 1987-88. The Court held that the addition of Rs. 16,39,000 to the assessee's income due to alleged undervaluation of closing stock was incorrect. The order of the CIT(A) upholding the assessee's position was affirmed, and the civil appeal filed by the department was dismissed without costs imposed. Case-Laws Income Tax Thu, 30 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216457