https://www.taxtmi.com/caselaws?id=56797 The Tribunal directed the correct valuation of the closing stock based on the cost as per the books of account for free sugar and the controlled price for levy sugar. The Income Tax Officer's revaluation method was rejected, and the closing stock was to be revalued accordingly. The departmental appeal was partly allowed, the assessee's appeal was dismissed, and the matter was referred back to the Division Bench for further decisions. en-us Fri, 27 May 1988 00:00:00 +0530 Mon, 06 Dec 2010 17:23:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56797 The Tribunal directed the correct valuation of the closing stock based on the cost as per the books of account for free sugar and the controlled price for levy sugar. The Income Tax Officer's revaluation method was rejected, and the closing stock was to be revalued accordingly. The departmental appeal was partly allowed, the assessee's appeal was dismissed, and the matter was referred back to the Division Bench for further decisions. Case-Laws Income Tax Fri, 27 May 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56797