https://www.taxtmi.com/caselaws?id=282092 The Tribunal ruled in favor of the Assessee in both appeals. In the first case regarding the valuation of closing stock, the Tribunal found the Assessee's method in line with legal precedents and directed the deletion of the penalty. In the second case concerning non-disclosure of income from the transfer of trademark/goodwill, the Tribunal upheld the deletion of the penalty due to discrepancies in the treatment of income. The judgments underscore the significance of adhering to legal principles in tax matters to ensure fair treatment for taxpayers and uphold the rule of law. en-us Mon, 26 Feb 2018 00:00:00 +0530 Sun, 21 Jul 2019 06:23:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282092 The Tribunal ruled in favor of the Assessee in both appeals. In the first case regarding the valuation of closing stock, the Tribunal found the Assessee's method in line with legal precedents and directed the deletion of the penalty. In the second case concerning non-disclosure of income from the transfer of trademark/goodwill, the Tribunal upheld the deletion of the penalty due to discrepancies in the treatment of income. The judgments underscore the significance of adhering to legal principles in tax matters to ensure fair treatment for taxpayers and uphold the rule of law. Case-Laws Income Tax Mon, 26 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282092