https://www.taxtmi.com/caselaws?id=243722 The High Court upheld the deletion of the addition made by the Assessing Officer regarding the under-valuation of closing stock of land for the assessment year 2006-07. The legal dispute with M/s Amritsar Rayon & Silk Mills (P) Limited had a substantial impact on the valuation, justifying the reduction in value by the assessee. The Court found the valuation method consistent and ruled that no loss to the revenue was caused by the adjustments. en-us Tue, 21 Jan 2014 00:00:00 +0530 Sat, 05 Apr 2014 11:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243722 The High Court upheld the deletion of the addition made by the Assessing Officer regarding the under-valuation of closing stock of land for the assessment year 2006-07. The legal dispute with M/s Amritsar Rayon & Silk Mills (P) Limited had a substantial impact on the valuation, justifying the reduction in value by the assessee. The Court found the valuation method consistent and ruled that no loss to the revenue was caused by the adjustments. Case-Laws Income Tax Tue, 21 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243722