https://www.taxtmi.com/caselaws?id=13667 The court determined that the parental flock should be treated as stock-in-trade due to its essential role in the business's production process and market value. The court emphasized that the value of the parental flock cannot be considered nil without adequate evidence. Additionally, the court remanded the case to reassess whether the expenditure on the parental flock should be treated as revenue expenditure, allowing the assessee to provide evidence to support their position. The court ruled in favor of the Revenue, directing the Assessing Officer to consider the principles outlined in relevant cases for reassessment. en-us Mon, 07 May 2007 00:00:00 +0530 Wed, 01 Jul 2009 12:06:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13667 The court determined that the parental flock should be treated as stock-in-trade due to its essential role in the business's production process and market value. The court emphasized that the value of the parental flock cannot be considered nil without adequate evidence. Additionally, the court remanded the case to reassess whether the expenditure on the parental flock should be treated as revenue expenditure, allowing the assessee to provide evidence to support their position. The court ruled in favor of the Revenue, directing the Assessing Officer to consider the principles outlined in relevant cases for reassessment. Case-Laws Income Tax Mon, 07 May 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13667