https://www.taxtmi.com/caselaws?id=282314 The appeal was dismissed, upholding the penalty under section 271(1)(c) for closing stock valuation, while the penalty for excess shortage was deleted based on the Tribunal's decision in the quantum appeal. The Appellate Tribunal confirmed the penalty imposed on closing stock valuation due to discrepancies and lack of satisfactory explanations provided by the assessee, despite no representation from the assessee. en-us Tue, 01 Sep 2015 00:00:00 +0530 Fri, 02 Aug 2019 10:41:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282314 The appeal was dismissed, upholding the penalty under section 271(1)(c) for closing stock valuation, while the penalty for excess shortage was deleted based on the Tribunal's decision in the quantum appeal. The Appellate Tribunal confirmed the penalty imposed on closing stock valuation due to discrepancies and lack of satisfactory explanations provided by the assessee, despite no representation from the assessee. Case-Laws Income Tax Tue, 01 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282314