https://www.taxtmi.com/caselaws?id=399453 The High Court remanded the case to the assessing officer for fresh consideration, finding that the Tribunal did not properly address whether the addition towards valuation of closing stock should only arise if the stock remains with the assessee in the next year, not when the business is taken over. The Court allowed the Tax case Appeal, setting aside the Tribunal's order and leaving the substantial question of law open for further review, with no costs awarded. en-us Tue, 06 Oct 2020 00:00:00 +0530 Sat, 10 Oct 2020 16:12:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399453 The High Court remanded the case to the assessing officer for fresh consideration, finding that the Tribunal did not properly address whether the addition towards valuation of closing stock should only arise if the stock remains with the assessee in the next year, not when the business is taken over. The Court allowed the Tax case Appeal, setting aside the Tribunal's order and leaving the substantial question of law open for further review, with no costs awarded. Case-Laws Income Tax Tue, 06 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399453