https://www.taxtmi.com/caselaws?id=327543 The Tribunal allowed the appeal, deleting the addition of Rs. 15,56,197/- for alleged undervaluation of closing stock of work-in-progress. The Tribunal found the AO's estimation method unwarranted, noting the absence of specific defects in the appellant's records and consistent accounting practices. The decision was influenced by a precedent case and the AO's acceptance of the valuation method in a subsequent year. The disallowance of Rs. 50,000/- towards factory expenses was not addressed in the Tribunal's order. en-us Tue, 05 Apr 2016 00:00:00 +0530 Fri, 13 May 2016 08:58:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327543 The Tribunal allowed the appeal, deleting the addition of Rs. 15,56,197/- for alleged undervaluation of closing stock of work-in-progress. The Tribunal found the AO's estimation method unwarranted, noting the absence of specific defects in the appellant's records and consistent accounting practices. The decision was influenced by a precedent case and the AO's acceptance of the valuation method in a subsequent year. The disallowance of Rs. 50,000/- towards factory expenses was not addressed in the Tribunal's order. Case-Laws Income Tax Tue, 05 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327543