https://www.taxtmi.com/caselaws?id=330335 The High Court ruled in favor of the appellant, upholding the deletion of the addition related to closing stock valuation adjustment. The Court emphasized the application of accounting principles and the impact of the Voluntary Disclosure Income Scheme declaration on the adjustment. The Court disagreed with the Tribunal's decision and restored the CIT (Appeals) decision, ultimately favoring the appellant in the case. en-us Wed, 13 Jul 2016 00:00:00 +0530 Fri, 22 Jul 2016 14:54:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330335 The High Court ruled in favor of the appellant, upholding the deletion of the addition related to closing stock valuation adjustment. The Court emphasized the application of accounting principles and the impact of the Voluntary Disclosure Income Scheme declaration on the adjustment. The Court disagreed with the Tribunal's decision and restored the CIT (Appeals) decision, ultimately favoring the appellant in the case. Case-Laws Income Tax Wed, 13 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330335