https://www.taxtmi.com/caselaws?id=287006 The appeal was dismissed. The Tribunal upheld the deletion of the addition made by the ITO on account of alleged undervaluation of closing stock. Additionally, the Tribunal upheld the direction to treat 75% of the expenses as relating to export for the purpose of weighted deduction under section 35B. The correct valuation of closing stock was emphasized as essential for arriving at the correct gross profit, with the disparity rate and gross profit rate required to be the same. en-us Wed, 13 Oct 1982 00:00:00 +0530 Tue, 24 Mar 2020 17:39:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287006 The appeal was dismissed. The Tribunal upheld the deletion of the addition made by the ITO on account of alleged undervaluation of closing stock. Additionally, the Tribunal upheld the direction to treat 75% of the expenses as relating to export for the purpose of weighted deduction under section 35B. The correct valuation of closing stock was emphasized as essential for arriving at the correct gross profit, with the disparity rate and gross profit rate required to be the same. Case-Laws Income Tax Wed, 13 Oct 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287006