https://www.taxtmi.com/caselaws?id=33593 The court acknowledged and condoned the delay in refiling the appeal. The assessee's method of valuing closing stock using the cost method was upheld as consistent with accounting principles and past practice, leading to the removal of additions made by the Assessing Officer. The court emphasized the importance of consistency in stock valuation methods, previous acceptance by the Revenue, and adherence to accounting principles in dismissing the appeal. en-us Fri, 13 Jul 2007 00:00:00 +0530 Sat, 17 Sep 2011 17:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=33593 The court acknowledged and condoned the delay in refiling the appeal. The assessee's method of valuing closing stock using the cost method was upheld as consistent with accounting principles and past practice, leading to the removal of additions made by the Assessing Officer. The court emphasized the importance of consistency in stock valuation methods, previous acceptance by the Revenue, and adherence to accounting principles in dismissing the appeal. Case-Laws Income Tax Fri, 13 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=33593