https://www.taxtmi.com/caselaws?id=269072 The ITAT ruled in favor of the assessee in a case concerning the interpretation of Rule 9B of the Income Tax Rules, 1962 for valuing closing stock in the distribution of feature films business. The ITAT upheld the CIT(A)'s decision to delete the addition made by the Assessing Officer, determining that the Assessing Officer had misconstrued Rule 9B and failed to apply its provisions correctly. The ITAT endorsed the method consistently followed by the assessee and dismissed the Revenue's appeals, finding no grounds for interference with the factual and legal findings. en-us Wed, 30 Sep 2015 00:00:00 +0530 Tue, 08 Dec 2015 10:47:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269072 The ITAT ruled in favor of the assessee in a case concerning the interpretation of Rule 9B of the Income Tax Rules, 1962 for valuing closing stock in the distribution of feature films business. The ITAT upheld the CIT(A)'s decision to delete the addition made by the Assessing Officer, determining that the Assessing Officer had misconstrued Rule 9B and failed to apply its provisions correctly. The ITAT endorsed the method consistently followed by the assessee and dismissed the Revenue's appeals, finding no grounds for interference with the factual and legal findings. Case-Laws Income Tax Wed, 30 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269072