https://www.taxtmi.com/caselaws?id=35258 The High Court dismissed the revenue's application for reference of legal questions arising from the Tribunal's order for the assessment year 1988-89. The Tribunal's decision to delete additions to the closing stock and unexplained investment was upheld, emphasizing the accuracy of the stock value in the books of accounts. The Court found no grounds to direct a reference, as the Tribunal's decision was deemed non-perverse and supported by the assessee's compliance with Excise Department requirements and lack of discrepancies in the stock register. The judgment highlighted the importance of accurate assessments, leading to the rejection of the revenue's application. en-us Mon, 09 Nov 2009 00:00:00 +0530 Sun, 08 May 2011 13:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35258 The High Court dismissed the revenue's application for reference of legal questions arising from the Tribunal's order for the assessment year 1988-89. The Tribunal's decision to delete additions to the closing stock and unexplained investment was upheld, emphasizing the accuracy of the stock value in the books of accounts. The Court found no grounds to direct a reference, as the Tribunal's decision was deemed non-perverse and supported by the assessee's compliance with Excise Department requirements and lack of discrepancies in the stock register. The judgment highlighted the importance of accurate assessments, leading to the rejection of the revenue's application. Case-Laws Income Tax Mon, 09 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35258