https://www.taxtmi.com/caselaws?id=387119 The Tribunal partially allowed the Assessee's appeal on the valuation of closing stock, directing the Assessing Officer to recalculate based on a reasonable average rate. The Tribunal fully allowed the appeal on the disallowance of salary payments to specified persons under section 40A(2)(b) of the Act, citing double taxation concerns and previous decisions. The judgment involved a detailed analysis of facts, case laws, and provisions, leading to a reasoned decision on each issue presented. en-us Thu, 19 Sep 2019 00:00:00 +0530 Thu, 17 Oct 2019 10:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387119 The Tribunal partially allowed the Assessee's appeal on the valuation of closing stock, directing the Assessing Officer to recalculate based on a reasonable average rate. The Tribunal fully allowed the appeal on the disallowance of salary payments to specified persons under section 40A(2)(b) of the Act, citing double taxation concerns and previous decisions. The judgment involved a detailed analysis of facts, case laws, and provisions, leading to a reasoned decision on each issue presented. Case-Laws Income Tax Thu, 19 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387119