https://www.taxtmi.com/caselaws?id=374541 The Tribunal partly allowed the appeals for Assessment Years (AY) 2009-10 and 2010-11, directing the Assessing Officer (AO) to determine the closing stock value based on the purchase price and rejecting the claim for business loss carry forward. For AY 2011-12, the Tribunal directed the AO to follow the same method as in AY 2010-11 for determining profit and additional investment, allowing the appeal for statistical purposes. The Tribunal also deemed the addition based on unexecuted agreements as incorrect and directed its deletion. en-us Thu, 31 Jan 2019 00:00:00 +0530 Mon, 04 Feb 2019 07:05:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374541 The Tribunal partly allowed the appeals for Assessment Years (AY) 2009-10 and 2010-11, directing the Assessing Officer (AO) to determine the closing stock value based on the purchase price and rejecting the claim for business loss carry forward. For AY 2011-12, the Tribunal directed the AO to follow the same method as in AY 2010-11 for determining profit and additional investment, allowing the appeal for statistical purposes. The Tribunal also deemed the addition based on unexecuted agreements as incorrect and directed its deletion. Case-Laws Income Tax Thu, 31 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374541