https://www.taxtmi.com/caselaws?id=57063 The Tribunal directed the Assessing Officer to reassess the valuation of the closing stock using the average cost method, following the consistent practice of the assessee. Additionally, the Tribunal upheld the relief granted by the CIT(A) for ornaments not recorded in the trading account, including excluding deposits by the partner and his family members and deleting additions related to jewellery received from Karigars. The appeals were partly allowed for statistical purposes. en-us Wed, 01 Dec 2004 00:00:00 +0530 Wed, 08 Dec 2010 12:07:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57063 The Tribunal directed the Assessing Officer to reassess the valuation of the closing stock using the average cost method, following the consistent practice of the assessee. Additionally, the Tribunal upheld the relief granted by the CIT(A) for ornaments not recorded in the trading account, including excluding deposits by the partner and his family members and deleting additions related to jewellery received from Karigars. The appeals were partly allowed for statistical purposes. Case-Laws Income Tax Wed, 01 Dec 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57063