https://www.taxtmi.com/caselaws?id=56659 The Tribunal partly allowed the appeals, restoring the ITO's additions for the valuation of seized stock and dismissing the revenue's appeal on the deletion of the interest account. It held that seized assets retained under section 132(5) should be included in the closing stock for valuation, as ownership remained with the assessee and the assets were not confiscated. en-us Tue, 22 Sep 1987 00:00:00 +0530 Mon, 06 Dec 2010 11:38:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56659 The Tribunal partly allowed the appeals, restoring the ITO's additions for the valuation of seized stock and dismissing the revenue's appeal on the deletion of the interest account. It held that seized assets retained under section 132(5) should be included in the closing stock for valuation, as ownership remained with the assessee and the assets were not confiscated. Case-Laws Income Tax Tue, 22 Sep 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56659