https://www.taxtmi.com/caselaws?id=17144 The court determined that the valuation of the closing stock for estate duty purposes should include the profit element, specifically a 12.5% profit earned by the firm on its sales. The court found in favor of the Revenue, stating that the closing stock's value should be increased by 12.5% for estate duty calculation. The judgment required sending a copy to the Income-tax Appellate Tribunal, Cochin Bench, for further action in accordance with the court's decision. en-us Wed, 07 Aug 1996 00:00:00 +0530 Tue, 15 Sep 2009 13:56:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17144 The court determined that the valuation of the closing stock for estate duty purposes should include the profit element, specifically a 12.5% profit earned by the firm on its sales. The court found in favor of the Revenue, stating that the closing stock's value should be increased by 12.5% for estate duty calculation. The judgment required sending a copy to the Income-tax Appellate Tribunal, Cochin Bench, for further action in accordance with the court's decision. Case-Laws Income Tax Wed, 07 Aug 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17144