https://www.taxtmi.com/caselaws?id=301598 The ITAT upheld the decision of the CIT (Appeals) in a tax case involving the rejection of books of account, valuation of closing stock, and application of accounting methods for a jeweler. The ITAT dismissed the Department's appeal, emphasizing the consistency of valuation methods and reliance on previous judicial decisions. The decision highlighted the importance of consistent accounting practices and business realities in determining the valuation of closing stock for jewellers. en-us Tue, 03 May 2016 00:00:00 +0530 Tue, 12 Apr 2022 09:12:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301598 The ITAT upheld the decision of the CIT (Appeals) in a tax case involving the rejection of books of account, valuation of closing stock, and application of accounting methods for a jeweler. The ITAT dismissed the Department's appeal, emphasizing the consistency of valuation methods and reliance on previous judicial decisions. The decision highlighted the importance of consistent accounting practices and business realities in determining the valuation of closing stock for jewellers. Case-Laws Income Tax Tue, 03 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301598