https://www.taxtmi.com/caselaws?id=396949 The Tribunal upheld the addition for undervaluation of closing stock and the disallowance under section 14A in the case. The appellant's valuation method for closing stock lacked a basis, with insufficient evidence of physical verification and realizable value determination. The disallowance under section 14A was confirmed due to the absence of written submissions, despite the appellant's argument against it. The judgment highlighted the necessity of providing concrete evidence to support valuation methods and justify disallowances, resulting in the dismissal of the appellant's appeal. en-us Mon, 09 Mar 2020 00:00:00 +0530 Mon, 27 Jul 2020 10:42:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396949 The Tribunal upheld the addition for undervaluation of closing stock and the disallowance under section 14A in the case. The appellant's valuation method for closing stock lacked a basis, with insufficient evidence of physical verification and realizable value determination. The disallowance under section 14A was confirmed due to the absence of written submissions, despite the appellant's argument against it. The judgment highlighted the necessity of providing concrete evidence to support valuation methods and justify disallowances, resulting in the dismissal of the appellant's appeal. Case-Laws Income Tax Mon, 09 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396949