https://www.taxtmi.com/caselaws?id=403050 The Tribunal ruled in favor of the appellant, a partnership firm in the brick manufacturing business, in an appeal against the Commissioner of Income Tax-(A)-6, Kolkata's order for the assessment year 2015-16. The Tribunal deleted the addition related to the under-valuation of closing stock, citing that the valuation by the survey team was arbitrary and erroneous. Additionally, the Tribunal declared the assessment order invalid due to jurisdictional issues, as the assessing officer did not have the authority to issue the notice. Consequently, the Tribunal allowed the appeal and ruled in favor of the assessee on both issues. en-us Mon, 14 Dec 2020 00:00:00 +0530 Mon, 18 Jan 2021 13:20:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403050 The Tribunal ruled in favor of the appellant, a partnership firm in the brick manufacturing business, in an appeal against the Commissioner of Income Tax-(A)-6, Kolkata's order for the assessment year 2015-16. The Tribunal deleted the addition related to the under-valuation of closing stock, citing that the valuation by the survey team was arbitrary and erroneous. Additionally, the Tribunal declared the assessment order invalid due to jurisdictional issues, as the assessing officer did not have the authority to issue the notice. Consequently, the Tribunal allowed the appeal and ruled in favor of the assessee on both issues. Case-Laws Income Tax Mon, 14 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403050