https://www.taxtmi.com/caselaws?id=55894 An addition for alleged undervaluation of stock was unsustainable because the closing stock had already been estimated and the further inclusion of goods on Jhangad and goods held for exchange would duplicate items already embedded in that estimate. The addition could be sustained only if there was proven undervaluation as on the last day of the previous year, and the absence of reliable quantitative records supported rejection of the Assessing Officer's basis. The addition was deleted in favour of the assessee. en-us Fri, 19 Dec 1986 00:00:00 +0530 Tue, 30 Nov 2010 15:36:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55894 An addition for alleged undervaluation of stock was unsustainable because the closing stock had already been estimated and the further inclusion of goods on Jhangad and goods held for exchange would duplicate items already embedded in that estimate. The addition could be sustained only if there was proven undervaluation as on the last day of the previous year, and the absence of reliable quantitative records supported rejection of the Assessing Officer's basis. The addition was deleted in favour of the assessee. Case-Laws Income Tax Fri, 19 Dec 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55894