https://www.taxtmi.com/caselaws?id=432269 The tribunal dismissed the appeal, upholding the findings of the Assessing Officer and Commissioner of Income Tax (Appeals). The tribunal found the lack of satisfactory evidence for the inventory write-off and emphasized the importance of transparency and regulatory compliance in financial reporting. It concluded that the write-off was an attempt to offset capital gains and avoid tax liabilities, justifying the addition towards the write-off of inventory. en-us Fri, 04 Nov 2022 00:00:00 +0530 Mon, 02 Jan 2023 08:36:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432269 The tribunal dismissed the appeal, upholding the findings of the Assessing Officer and Commissioner of Income Tax (Appeals). The tribunal found the lack of satisfactory evidence for the inventory write-off and emphasized the importance of transparency and regulatory compliance in financial reporting. It concluded that the write-off was an attempt to offset capital gains and avoid tax liabilities, justifying the addition towards the write-off of inventory. Case-Laws Income Tax Fri, 04 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432269