https://www.taxtmi.com/caselaws?id=356177 The case involved a dispute over the correctness of books of accounts and allegations of inflating stock for credit facilities under section 145 of the Income Tax Act. The Tribunal dismissed the revenue's appeal, upholding that discrepancies in stock valuation for credit purposes do not warrant additional tax assessments. The decision emphasized the distinction between stock valuation for internal records and external credit requirements, ultimately leading to the dismissal of the appeal. en-us Mon, 05 Feb 2018 00:00:00 +0530 Mon, 26 Feb 2018 08:30:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356177 The case involved a dispute over the correctness of books of accounts and allegations of inflating stock for credit facilities under section 145 of the Income Tax Act. The Tribunal dismissed the revenue's appeal, upholding that discrepancies in stock valuation for credit purposes do not warrant additional tax assessments. The decision emphasized the distinction between stock valuation for internal records and external credit requirements, ultimately leading to the dismissal of the appeal. Case-Laws Income Tax Mon, 05 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356177