https://www.taxtmi.com/caselaws?id=423382 The Tribunal set aside the decision deleting the addition of Rs. 4,23,32,795/- for under-valuation of closing stock of rice, restoring the matter to the Assessing Officer for further examination. The Tribunal emphasized the need for proper evidence to support stock valuation and criticized the acceptance of additional evidence without allowing verification by the AO. The Revenue's appeal was allowed for statistical purposes, highlighting the importance of consistent and verifiable stock valuation methods. en-us Thu, 12 May 2022 00:00:00 +0530 Sat, 04 Jun 2022 17:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423382 The Tribunal set aside the decision deleting the addition of Rs. 4,23,32,795/- for under-valuation of closing stock of rice, restoring the matter to the Assessing Officer for further examination. The Tribunal emphasized the need for proper evidence to support stock valuation and criticized the acceptance of additional evidence without allowing verification by the AO. The Revenue's appeal was allowed for statistical purposes, highlighting the importance of consistent and verifiable stock valuation methods. Case-Laws Income Tax Thu, 12 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423382