https://www.taxtmi.com/caselaws?id=394423 The disallowance of writing off obsolete inventory worth Rs. 1 crore was upheld by the ITAT due to lack of evidence supporting the claim, despite the assessee's argument of obsolescence and adherence to accounting principles. Additionally, the disallowance of Rs. 22,84,056 as prior period expense was confirmed by the ITAT, as the expenses were not crystallized in the relevant year, leading to the rejection of the assessee's appeal. en-us Wed, 19 Feb 2020 00:00:00 +0530 Sat, 11 Apr 2020 10:52:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394423 The disallowance of writing off obsolete inventory worth Rs. 1 crore was upheld by the ITAT due to lack of evidence supporting the claim, despite the assessee's argument of obsolescence and adherence to accounting principles. Additionally, the disallowance of Rs. 22,84,056 as prior period expense was confirmed by the ITAT, as the expenses were not crystallized in the relevant year, leading to the rejection of the assessee's appeal. Case-Laws Income Tax Wed, 19 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394423