https://www.taxtmi.com/caselaws?id=388104 The Tribunal dismissed the revenue's appeal, upholding the deletion of the addition related to the diminution in the value of closing stock and the consequential adjustment in book profit under section 115JB. The decision was based on the consistency of valuation method followed by the assessee and supported by legal precedents emphasizing the valuation of closing stock at cost or market price, whichever is lower. en-us Tue, 01 Oct 2019 00:00:00 +0530 Thu, 07 Nov 2019 16:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388104 The Tribunal dismissed the revenue's appeal, upholding the deletion of the addition related to the diminution in the value of closing stock and the consequential adjustment in book profit under section 115JB. The decision was based on the consistency of valuation method followed by the assessee and supported by legal precedents emphasizing the valuation of closing stock at cost or market price, whichever is lower. Case-Laws Income Tax Tue, 01 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388104