https://www.taxtmi.com/caselaws?id=58799 The Tribunal partly allowed the appeal, directing the ITO to re-examine and make adjustments in certain areas. The addition of cash compensatory allowance was held taxable, differing from precedents. The valuation method for closing stock of finished goods was modified to adjust the opening stock. Undervaluation of raw material stock was upheld. Disallowance of foreign commission payment was overturned due to a change in accounting system. Addition under Section 69C was deleted for lack of evidence. Deduction under Section 80HHC was increased. Disallowances on duty drawback and Section 37(2A) were rejected. en-us Mon, 14 Aug 1989 00:00:00 +0530 Wed, 22 Dec 2010 12:25:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58799 The Tribunal partly allowed the appeal, directing the ITO to re-examine and make adjustments in certain areas. The addition of cash compensatory allowance was held taxable, differing from precedents. The valuation method for closing stock of finished goods was modified to adjust the opening stock. Undervaluation of raw material stock was upheld. Disallowance of foreign commission payment was overturned due to a change in accounting system. Addition under Section 69C was deleted for lack of evidence. Deduction under Section 80HHC was increased. Disallowances on duty drawback and Section 37(2A) were rejected. Case-Laws Income Tax Mon, 14 Aug 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58799