https://www.taxtmi.com/caselaws?id=15084 The court upheld the Tribunal's valuation decision regarding the closing stock of a dissolved firm, emphasizing the need for consistent valuation methods for accurate business assessment. It directed the revaluation of the opening stock of a newly constituted firm at market price to reflect correct trading results, dismissing concerns about depreciation of stock-in-trade. The court granted a certificate for appeal to SC, recognizing the importance of consistent valuation methods for dissolved and newly constituted entities to ensure fair tax treatment and accurate business assessment. en-us Fri, 03 Apr 1998 00:00:00 +0530 Fri, 31 Jul 2009 16:14:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15084 The court upheld the Tribunal's valuation decision regarding the closing stock of a dissolved firm, emphasizing the need for consistent valuation methods for accurate business assessment. It directed the revaluation of the opening stock of a newly constituted firm at market price to reflect correct trading results, dismissing concerns about depreciation of stock-in-trade. The court granted a certificate for appeal to SC, recognizing the importance of consistent valuation methods for dissolved and newly constituted entities to ensure fair tax treatment and accurate business assessment. Case-Laws Income Tax Fri, 03 Apr 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15084