https://www.taxtmi.com/caselaws?id=436077 The Tribunal dismissed both of Revenue's appeals, upholding the CIT(A)'s decisions regarding the deletion of penalty under Section 271(1)(c) for AY 2012-13 and the enhancement of opening stock for AY 2013-14. The Tribunal emphasized the difference in valuation methods and the principle that closing stock of one year should be the opening stock of the next, relying on legal precedents to support its conclusions. en-us Thu, 30 Mar 2023 00:00:00 +0530 Mon, 03 Apr 2023 16:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436077 The Tribunal dismissed both of Revenue's appeals, upholding the CIT(A)'s decisions regarding the deletion of penalty under Section 271(1)(c) for AY 2012-13 and the enhancement of opening stock for AY 2013-14. The Tribunal emphasized the difference in valuation methods and the principle that closing stock of one year should be the opening stock of the next, relying on legal precedents to support its conclusions. Case-Laws Income Tax Thu, 30 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436077