https://www.taxtmi.com/caselaws?id=24910 The High Court of Andhra Pradesh upheld the Tribunal's decision regarding the valuation of closing stock using the "works cost" method for the assessment year 1979-80, emphasizing that the change was made for bona fide purposes and not for tax avoidance. The court also ruled in favor of the assessee regarding the treatment of guarantee commission as revenue expenditure, citing a previous decision in support of this ruling. en-us Thu, 03 Mar 1988 00:00:00 +0530 Sat, 23 Jan 2010 11:46:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24910 The High Court of Andhra Pradesh upheld the Tribunal's decision regarding the valuation of closing stock using the "works cost" method for the assessment year 1979-80, emphasizing that the change was made for bona fide purposes and not for tax avoidance. The court also ruled in favor of the assessee regarding the treatment of guarantee commission as revenue expenditure, citing a previous decision in support of this ruling. Case-Laws Income Tax Thu, 03 Mar 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24910