Tribunal Corrects Obvious Mistake in Stock Valuation; Decision Favors Assessee's Recorded Cost Price.

Tribunal Corrects Obvious Mistake in Stock Valuation; Decision Favors Assessee's Recorded Cost Price. https://www.taxtmi.com/highlights?id=2779 Unexplained Investment – The assessee had valued the stock at cost price. The cost price as recorded in the books was not rejected or adversely commented upon in the assessment order. Thus an obvious mistake has been corrected by the Tribunal – Decided in favor of assessee..... - HC en-us Tue, 31 Jan 2012 16:48:54 +0530 Tue, 31 Jan 2012 16:48:54 +0530 TaxTMI RSS Generator Tribunal Corrects Obvious Mistake in Stock Valuation; Decision Favors Assessee's Recorded Cost Price. https://www.taxtmi.com/highlights?id=2779 Unexplained Investment – The assessee had valued the stock at cost price. The cost price as recorded in the books was not rejected or adversely commented upon in the assessment order. Thus an obvious mistake has been corrected by the Tribunal – Decided in favor of assessee..... - HC Highlights Income Tax Tue, 31 Jan 2012 16:48:54 +0530 https://www.taxtmi.com/highlights?id=2779