https://www.taxtmi.com/caselaws?id=32994 The appellant contested the disallowance of Rs.8,00,000 for the Assessment Year 2004-2005 due to alleged stock value difference. The Tribunal upheld the Assessing Officer's decision, categorizing the loss as on capital account without business closure. The appellant argued that the loss should be treated as a trading loss. The Tribunal found no error in the valuation method but noted the lack of evidence for the sudden drop in stock value. As no significant legal question arose, the appeal was dismissed. en-us Mon, 19 Jan 2009 00:00:00 +0530 Thu, 16 Apr 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32994 The appellant contested the disallowance of Rs.8,00,000 for the Assessment Year 2004-2005 due to alleged stock value difference. The Tribunal upheld the Assessing Officer's decision, categorizing the loss as on capital account without business closure. The appellant argued that the loss should be treated as a trading loss. The Tribunal found no error in the valuation method but noted the lack of evidence for the sudden drop in stock value. As no significant legal question arose, the appeal was dismissed. Case-Laws Income Tax Mon, 19 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32994