https://www.taxtmi.com/caselaws?id=416834 The High Court admitted the appeal against the ITAT order for the Assessment Year 2005-06. The case involved disputes over the valuation of closing stock, non-production of stock register during survey operations, rejection of Assessee's accounts and claimed expenditures, and re-working of gross profit rate. The Court found errors in ITAT's conclusions based on post-assessment period materials, emphasizing the separation of each assessment year. Consequently, the Court set aside the orders of the AO and CIT (A) to the extent of their reliance on post-assessment period materials, allowing the appeal in favor of the Assessee. en-us Thu, 06 Jan 2022 00:00:00 +0530 Sat, 08 Jan 2022 14:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416834 The High Court admitted the appeal against the ITAT order for the Assessment Year 2005-06. The case involved disputes over the valuation of closing stock, non-production of stock register during survey operations, rejection of Assessee's accounts and claimed expenditures, and re-working of gross profit rate. The Court found errors in ITAT's conclusions based on post-assessment period materials, emphasizing the separation of each assessment year. Consequently, the Court set aside the orders of the AO and CIT (A) to the extent of their reliance on post-assessment period materials, allowing the appeal in favor of the Assessee. Case-Laws Income Tax Thu, 06 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416834