https://www.taxtmi.com/caselaws?id=59153 The Tribunal upheld the disallowance of the provision for unfulfilled export obligations and the addition made due to the undervaluation of closing stock. It agreed with the tax authorities that the liabilities were contingent and the valuation method adopted by the assessee was arbitrary and not in accordance with recognized accounting principles. en-us Fri, 28 Feb 1992 00:00:00 +0530 Sat, 25 Dec 2010 12:54:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59153 The Tribunal upheld the disallowance of the provision for unfulfilled export obligations and the addition made due to the undervaluation of closing stock. It agreed with the tax authorities that the liabilities were contingent and the valuation method adopted by the assessee was arbitrary and not in accordance with recognized accounting principles. Case-Laws Income Tax Fri, 28 Feb 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59153