https://www.taxtmi.com/caselaws?id=23213 The court allowed the application in part, directing the Tribunal to refer the question regarding the deductibility of interest on a loan for its opinion. The court upheld the Tribunal's decision on the claim for a loss in the concrete unit due to floods, as the assessee had provided sufficient evidence. Additionally, the court supported the Tribunal's deletion of the addition made by the Income-tax Officer in valuing the closing stock of barbed wire, finding no error in the valuation method employed by the assessee. No costs were awarded due to the divided success of the parties. en-us Mon, 07 May 1990 00:00:00 +0530 Thu, 17 Dec 2009 15:20:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23213 The court allowed the application in part, directing the Tribunal to refer the question regarding the deductibility of interest on a loan for its opinion. The court upheld the Tribunal's decision on the claim for a loss in the concrete unit due to floods, as the assessee had provided sufficient evidence. Additionally, the court supported the Tribunal's deletion of the addition made by the Income-tax Officer in valuing the closing stock of barbed wire, finding no error in the valuation method employed by the assessee. No costs were awarded due to the divided success of the parties. Case-Laws Income Tax Mon, 07 May 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23213