https://www.taxtmi.com/caselaws?id=390631 The Tribunal ruled in favor of the assessee, deleting both the addition of Rs. 1 crore for undervaluation of closing stock and the addition of Rs. 20,59,417 for notional rent. The judgment highlighted the importance of proper valuation methods and determined that deemed rent provisions do not apply to properties not ready for use. en-us Fri, 08 Nov 2019 00:00:00 +0530 Wed, 08 Jan 2020 09:55:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390631 The Tribunal ruled in favor of the assessee, deleting both the addition of Rs. 1 crore for undervaluation of closing stock and the addition of Rs. 20,59,417 for notional rent. The judgment highlighted the importance of proper valuation methods and determined that deemed rent provisions do not apply to properties not ready for use. Case-Laws Income Tax Fri, 08 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390631