https://www.taxtmi.com/caselaws?id=253618 The High Court allowed the appeals, quashed the Tribunal's orders, and decided in favor of the assessee against the Revenue. The court emphasized the importance of accurate stock valuation and accepted explanations for discrepancies between stock values in regular books and those declared to the bank for a hypothecation facility. The appellant's reliance on a previous court decision supporting consistency in accounting methods and audit findings over the years was pivotal in the court's decision. en-us Tue, 25 Nov 2014 00:00:00 +0530 Sat, 23 Jul 2016 00:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253618 The High Court allowed the appeals, quashed the Tribunal's orders, and decided in favor of the assessee against the Revenue. The court emphasized the importance of accurate stock valuation and accepted explanations for discrepancies between stock values in regular books and those declared to the bank for a hypothecation facility. The appellant's reliance on a previous court decision supporting consistency in accounting methods and audit findings over the years was pivotal in the court's decision. Case-Laws Income Tax Tue, 25 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253618