https://www.taxtmi.com/caselaws?id=240497 The High Court ruled in favor of the revenue in an appeal regarding the deletion of an addition on account of closing stock of stores, spares, and tools for the assessment year 1994-95. The Court found the Tribunal's reliance on previous orders and estimation of stock for 30 days to be inappropriate, as the assessee admitted to maintaining stock for only 15 days. The Court accepted the valuation aligned with the assessee's reply, setting aside the Tribunal's order and answering the question of law against the assessee. en-us Wed, 22 May 2013 00:00:00 +0530 Fri, 06 Dec 2013 11:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240497 The High Court ruled in favor of the revenue in an appeal regarding the deletion of an addition on account of closing stock of stores, spares, and tools for the assessment year 1994-95. The Court found the Tribunal's reliance on previous orders and estimation of stock for 30 days to be inappropriate, as the assessee admitted to maintaining stock for only 15 days. The Court accepted the valuation aligned with the assessee's reply, setting aside the Tribunal's order and answering the question of law against the assessee. Case-Laws Income Tax Wed, 22 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240497