https://www.taxtmi.com/caselaws?id=269763 The Court upheld the deletion of an addition to the closing stock valuation made by the Assessing Officer, based on the consistent application of the LIFO method by the assessee. The Tribunal's decision, supported by previous judgments emphasizing the importance of method consistency, was maintained. The Court dismissed the revenue's appeal, citing that no substantial question of law arose and referencing relevant case law to support the decision. en-us Tue, 08 Sep 2015 00:00:00 +0530 Mon, 21 Dec 2015 16:25:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269763 The Court upheld the deletion of an addition to the closing stock valuation made by the Assessing Officer, based on the consistent application of the LIFO method by the assessee. The Tribunal's decision, supported by previous judgments emphasizing the importance of method consistency, was maintained. The Court dismissed the revenue's appeal, citing that no substantial question of law arose and referencing relevant case law to support the decision. Case-Laws Income Tax Tue, 08 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269763