https://www.taxtmi.com/caselaws?id=340795 The tribunal upheld the decisions of the CIT (A) and AO regarding the re-opening of the assessment under section 148 of the Income Tax Act for the assessment year 2012-13 based on excess stock of gold jewellery found during a survey operation. The tribunal also affirmed the valuation method used by the AO for the excess stock, which was based on the prevailing market rate on the date of the survey. The appeal of the assessee firm was dismissed, and the tribunal found the re-opening of the assessment and valuation of excess stock to be fair and just. en-us Fri, 02 Dec 2016 00:00:00 +0530 Tue, 28 Mar 2017 06:46:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340795 The tribunal upheld the decisions of the CIT (A) and AO regarding the re-opening of the assessment under section 148 of the Income Tax Act for the assessment year 2012-13 based on excess stock of gold jewellery found during a survey operation. The tribunal also affirmed the valuation method used by the AO for the excess stock, which was based on the prevailing market rate on the date of the survey. The appeal of the assessee firm was dismissed, and the tribunal found the re-opening of the assessment and valuation of excess stock to be fair and just. Case-Laws Income Tax Fri, 02 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340795