https://www.taxtmi.com/caselaws?id=15849 The court ruled in favor of the Revenue, stating that the closing stock of a firm on the date of dissolution should be valued at market price to accurately reflect the partnership's trade. The judgment emphasized the need for fair assessment and aligned with previous rulings, establishing the principle that on dissolution, closing stock must be valued at market price to represent the firm's financial position accurately. en-us Tue, 01 Dec 1998 00:00:00 +0530 Sat, 29 Aug 2009 15:07:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15849 The court ruled in favor of the Revenue, stating that the closing stock of a firm on the date of dissolution should be valued at market price to accurately reflect the partnership's trade. The judgment emphasized the need for fair assessment and aligned with previous rulings, establishing the principle that on dissolution, closing stock must be valued at market price to represent the firm's financial position accurately. Case-Laws Income Tax Tue, 01 Dec 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15849