https://www.taxtmi.com/caselaws?id=13163 The court found that the Tribunal was not justified in valuing the closing stock at Rs.92,000, resulting in the addition of Rs.32,000. Consequently, the court ruled in favor of the assessee against the Revenue, invalidating the basis for reopening the assessment and making the said addition. The court declined to address other issues raised in the case, ultimately disposing of the reference with no order as to costs. en-us Fri, 14 Sep 2001 00:00:00 +0530 Tue, 26 May 2009 17:26:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13163 The court found that the Tribunal was not justified in valuing the closing stock at Rs.92,000, resulting in the addition of Rs.32,000. Consequently, the court ruled in favor of the assessee against the Revenue, invalidating the basis for reopening the assessment and making the said addition. The court declined to address other issues raised in the case, ultimately disposing of the reference with no order as to costs. Case-Laws Income Tax Fri, 14 Sep 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13163