https://www.taxtmi.com/caselaws?id=338173 The Tribunal condoned the delay in filing the appeal, emphasizing that justice should not be hindered by procedural lapses. Regarding the valuation of closing stock, the Tribunal found the AO's assessment to be correct, rejecting the CIT's claim of undervaluation. The Tribunal concluded that the AO's order was not prejudicial to revenue, allowing the appeal and quashing the CIT's order. en-us Fri, 28 Oct 2016 00:00:00 +0530 Fri, 27 Jan 2017 08:59:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338173 The Tribunal condoned the delay in filing the appeal, emphasizing that justice should not be hindered by procedural lapses. Regarding the valuation of closing stock, the Tribunal found the AO's assessment to be correct, rejecting the CIT's claim of undervaluation. The Tribunal concluded that the AO's order was not prejudicial to revenue, allowing the appeal and quashing the CIT's order. Case-Laws Income Tax Fri, 28 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338173