https://www.taxtmi.com/caselaws?id=20363 The High Court of BOMBAY ruled in favor of the Revenue, upholding the Tribunal's decision to value the company's closing stock without any bifurcation into levy sugar and free sugar categories for income tax purposes. The Court found that the company's bifurcation lacked justification and appeared to be for tax reduction purposes. The company's appeal under section 256(1) of the Income-tax Act, 1961 was dismissed, and no costs were awarded. en-us Mon, 14 Jun 1993 00:00:00 +0530 Fri, 13 Nov 2009 15:20:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20363 The High Court of BOMBAY ruled in favor of the Revenue, upholding the Tribunal's decision to value the company's closing stock without any bifurcation into levy sugar and free sugar categories for income tax purposes. The Court found that the company's bifurcation lacked justification and appeared to be for tax reduction purposes. The company's appeal under section 256(1) of the Income-tax Act, 1961 was dismissed, and no costs were awarded. Case-Laws Income Tax Mon, 14 Jun 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20363