https://www.taxtmi.com/caselaws?id=237376 The Court admitted the income tax appeal based on certain substantial questions that remained unresolved in the case. Issues such as the disallowance of Production Incentive Bonus and the classification of Tubewell as Plant were decided in favor of the assessee due to precedents in previous judgments. However, the Court upheld the addition on account of under valuation of closing stock, citing the consistent valuation method adopted by the assessee. The issue of deletion of guest house expenses was ruled in favor of the revenue, following a Supreme Court judgment. The appeal was disposed of after thorough consideration of the various issues presented. en-us Thu, 29 Aug 2013 00:00:00 +0530 Thu, 26 Sep 2013 11:44:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237376 The Court admitted the income tax appeal based on certain substantial questions that remained unresolved in the case. Issues such as the disallowance of Production Incentive Bonus and the classification of Tubewell as Plant were decided in favor of the assessee due to precedents in previous judgments. However, the Court upheld the addition on account of under valuation of closing stock, citing the consistent valuation method adopted by the assessee. The issue of deletion of guest house expenses was ruled in favor of the revenue, following a Supreme Court judgment. The appeal was disposed of after thorough consideration of the various issues presented. Case-Laws Income Tax Thu, 29 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237376