https://www.taxtmi.com/caselaws?id=468853 Loss claimed on obsolete stock was disallowed because the assessment and appellate authorities had recorded concurrent factual findings that the laptops and motherboards had become obsolete, and no perversity was shown in those findings. The Bombay High Court treated the Revenue's cited precedent as distinguishable, since that case involved a claim of obsolescence without matching factual support. The assessee's consistent year-to-year accounting treatment also supported the claim under the applicable accounting framework, but it did not justify interference with the disallowance on the facts before the Court. en-us Tue, 07 Jan 2020 00:00:00 +0530 Fri, 22 May 2026 10:40:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468853 Loss claimed on obsolete stock was disallowed because the assessment and appellate authorities had recorded concurrent factual findings that the laptops and motherboards had become obsolete, and no perversity was shown in those findings. The Bombay High Court treated the Revenue's cited precedent as distinguishable, since that case involved a claim of obsolescence without matching factual support. The assessee's consistent year-to-year accounting treatment also supported the claim under the applicable accounting framework, but it did not justify interference with the disallowance on the facts before the Court. Case-Laws Income Tax Tue, 07 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468853