https://www.taxtmi.com/caselaws?id=336032 The Appellate Tribunal allowed the appeal of the assessee, emphasizing consistency in the valuation of closing stock and the business purpose of JD Plot rent. The Tribunal held that the method of valuation must be consistent and found that the addition made by the Assessing Officer was not justified. Regarding the JD Plot rent, the Tribunal considered the business use supported by a license agreement and commercial expediency, following the precedent in S.A. Builders v. CIT. Consequently, the Tribunal deleted the disallowance of JD Plot rent, ruling in favor of the appellant on both issues. en-us Mon, 17 Oct 2016 00:00:00 +0530 Wed, 14 Dec 2016 16:14:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336032 The Appellate Tribunal allowed the appeal of the assessee, emphasizing consistency in the valuation of closing stock and the business purpose of JD Plot rent. The Tribunal held that the method of valuation must be consistent and found that the addition made by the Assessing Officer was not justified. Regarding the JD Plot rent, the Tribunal considered the business use supported by a license agreement and commercial expediency, following the precedent in S.A. Builders v. CIT. Consequently, the Tribunal deleted the disallowance of JD Plot rent, ruling in favor of the appellant on both issues. Case-Laws Income Tax Mon, 17 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336032