https://www.taxtmi.com/caselaws?id=176461 The Tribunal allowed the appeal for statistical purposes, directing the Assessing Officer (AO) to verify the assessee's compliance with Section 145A and Section 43B of the IT Act, 1961. The Tribunal instructed the AO to apply Section 145A to both the opening and closing stock and to delete the addition of Rs. 29,39,872 if the assessee complied with these provisions. The Tribunal emphasized avoiding double deduction and ensuring the correct valuation of inventories, including tax, duty, cess, or fee paid or incurred. en-us Mon, 11 Aug 2008 00:00:00 +0530 Tue, 28 Nov 2023 11:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176461 The Tribunal allowed the appeal for statistical purposes, directing the Assessing Officer (AO) to verify the assessee's compliance with Section 145A and Section 43B of the IT Act, 1961. The Tribunal instructed the AO to apply Section 145A to both the opening and closing stock and to delete the addition of Rs. 29,39,872 if the assessee complied with these provisions. The Tribunal emphasized avoiding double deduction and ensuring the correct valuation of inventories, including tax, duty, cess, or fee paid or incurred. Case-Laws Income Tax Mon, 11 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176461