https://www.taxtmi.com/caselaws?id=261374 The ITAT allowed both appeals in favor of the assessee. Regarding the disallowance of deduction under section 80HHC on the sale of DEPB, the ITAT directed the Assessing Officer to grant relief to the assessee based on a Supreme Court ruling. In the case of disallowance under section 145A for closing stock valuation, the ITAT directed the AO to restrict the addition and align with consistent practices, ultimately allowing the appeal for AY 2007-08. en-us Mon, 29 Jun 2015 00:00:00 +0530 Wed, 08 Jul 2015 14:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261374 The ITAT allowed both appeals in favor of the assessee. Regarding the disallowance of deduction under section 80HHC on the sale of DEPB, the ITAT directed the Assessing Officer to grant relief to the assessee based on a Supreme Court ruling. In the case of disallowance under section 145A for closing stock valuation, the ITAT directed the AO to restrict the addition and align with consistent practices, ultimately allowing the appeal for AY 2007-08. Case-Laws Income Tax Mon, 29 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261374