https://www.taxtmi.com/caselaws?id=269463 The Tribunal allowed the appeal, directing the AO to re-determine the income chargeable to tax, considering Section 145A comprehensively. The Tribunal emphasized the need for inclusive valuation of inventory and corresponding adjustments to opening and closing stock to ensure accurate income determination. The AO was instructed to allow the assessee to present evidence in support of its claims, following the Tribunal's observations and precedent set by the Supreme Court and co-ordinate bench of the Tribunal. en-us Wed, 09 Dec 2015 00:00:00 +0530 Mon, 14 Dec 2015 10:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269463 The Tribunal allowed the appeal, directing the AO to re-determine the income chargeable to tax, considering Section 145A comprehensively. The Tribunal emphasized the need for inclusive valuation of inventory and corresponding adjustments to opening and closing stock to ensure accurate income determination. The AO was instructed to allow the assessee to present evidence in support of its claims, following the Tribunal's observations and precedent set by the Supreme Court and co-ordinate bench of the Tribunal. Case-Laws Income Tax Wed, 09 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269463