https://www.taxtmi.com/caselaws?id=30049 The High Court dismissed the appeal concerning the assessment of obsolete stock for the year 1998-99. The court upheld the Commissioner's decision, supported by a Chartered Engineer's valuation, emphasizing the technical obsolescence of the stock in the manufacturing of television sets. The tribunal's ruling was deemed fact-driven and well-founded, considering the specialized nature of the industry and the expert assessment provided. The judgment highlights the importance of expert valuation in cases involving technical obsolescence, ultimately leading to the dismissal of the appeal without raising substantial legal questions for review. en-us Wed, 16 Jul 2008 00:00:00 +0530 Sat, 17 Sep 2011 16:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30049 The High Court dismissed the appeal concerning the assessment of obsolete stock for the year 1998-99. The court upheld the Commissioner's decision, supported by a Chartered Engineer's valuation, emphasizing the technical obsolescence of the stock in the manufacturing of television sets. The tribunal's ruling was deemed fact-driven and well-founded, considering the specialized nature of the industry and the expert assessment provided. The judgment highlights the importance of expert valuation in cases involving technical obsolescence, ultimately leading to the dismissal of the appeal without raising substantial legal questions for review. Case-Laws Income Tax Wed, 16 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30049