https://www.taxtmi.com/caselaws?id=250914 The Tribunal upheld the validity of the reassessment proceedings and the disallowances for the revaluation of closing stock and discount on previous year's sales. However, it deleted the penalty imposed under Section 271(1)(c), as the assessee had disclosed all relevant details, and there was no concealment or furnishing of inaccurate particulars. en-us Fri, 11 Apr 2014 00:00:00 +0530 Fri, 29 Aug 2014 08:29:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250914 The Tribunal upheld the validity of the reassessment proceedings and the disallowances for the revaluation of closing stock and discount on previous year's sales. However, it deleted the penalty imposed under Section 271(1)(c), as the assessee had disclosed all relevant details, and there was no concealment or furnishing of inaccurate particulars. Case-Laws Income Tax Fri, 11 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250914