https://www.taxtmi.com/highlights?id=74056 Undervaluation of closing stock - the Tribunal ought not to have restricted such addition to 25% without any basis and only by estimating the same in absence of any material on record for the same. However, as the addition is in closing stock which would have a cascading effect and the year under consideration is 2011-12, we would not like to interfere in the impugned order of Tribunal on that ground only. - HC en-us Tue, 09 Jan 2024 08:36:00 +0530 Tue, 09 Jan 2024 08:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=74056 Undervaluation of closing stock - the Tribunal ought not to have restricted such addition to 25% without any basis and only by estimating the same in absence of any material on record for the same. However, as the addition is in closing stock which would have a cascading effect and the year under consideration is 2011-12, we would not like to interfere in the impugned order of Tribunal on that ground only. - HC Highlights Income Tax Tue, 09 Jan 2024 08:36:00 +0530 https://www.taxtmi.com/highlights?id=74056