https://www.taxtmi.com/caselaws?id=55588 The Tribunal allowed the appeal of the assessee in a case concerning the valuation of closing stock of securities. The dispute centered on whether the market value should include the discount/brokerage payable on the sale of securities. The Tribunal ruled in favor of the assessee, holding that the market price should be the net realized value after deducting brokerage, aligning with accepted accounting principles and standards. The decision rejected the Revenue authorities' position and emphasized adherence to recognized accounting principles. en-us Tue, 14 Aug 2001 00:00:00 +0530 Sat, 27 Nov 2010 18:36:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55588 The Tribunal allowed the appeal of the assessee in a case concerning the valuation of closing stock of securities. The dispute centered on whether the market value should include the discount/brokerage payable on the sale of securities. The Tribunal ruled in favor of the assessee, holding that the market price should be the net realized value after deducting brokerage, aligning with accepted accounting principles and standards. The decision rejected the Revenue authorities' position and emphasized adherence to recognized accounting principles. Case-Laws Income Tax Tue, 14 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55588