https://www.taxtmi.com/caselaws?id=191069 The appeal against the Income-tax Appellate Tribunal's order regarding the valuation of closing stock for the assessment year 1998-99 was dismissed. The Tribunal's decision to uphold the addition of Rs. 8,52,513 by the Assessing Officer was justified due to lack of evidence supporting the revaluation of stock. The Tribunal found the Assessing Officer's method reasonable, based on authenticated rates. The appellant's arguments, including citing relevant case laws, were rejected, and the Tribunal's decision was upheld, leading to the dismissal of the appeal. en-us Thu, 18 Feb 2016 00:00:00 +0530 Sat, 18 Mar 2017 17:31:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191069 The appeal against the Income-tax Appellate Tribunal's order regarding the valuation of closing stock for the assessment year 1998-99 was dismissed. The Tribunal's decision to uphold the addition of Rs. 8,52,513 by the Assessing Officer was justified due to lack of evidence supporting the revaluation of stock. The Tribunal found the Assessing Officer's method reasonable, based on authenticated rates. The appellant's arguments, including citing relevant case laws, were rejected, and the Tribunal's decision was upheld, leading to the dismissal of the appeal. Case-Laws Income Tax Thu, 18 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191069