https://www.taxtmi.com/caselaws?id=59770 The tribunal upheld the Assessing Officer's decision to disallow the claimed loss on stock valuation for tax purposes due to the absence of trading activities. It emphasized the necessity of trading transactions to determine profits accurately and cautioned against allowing notional losses without actual transactions. The tribunal concluded that the addition of Rs. 36,200 for stock valuation was justified, highlighting the importance of adhering to accounting principles and business realities in determining profits. en-us Tue, 20 Aug 2002 00:00:00 +0530 Sat, 01 Jan 2011 11:20:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59770 The tribunal upheld the Assessing Officer's decision to disallow the claimed loss on stock valuation for tax purposes due to the absence of trading activities. It emphasized the necessity of trading transactions to determine profits accurately and cautioned against allowing notional losses without actual transactions. The tribunal concluded that the addition of Rs. 36,200 for stock valuation was justified, highlighting the importance of adhering to accounting principles and business realities in determining profits. Case-Laws Income Tax Tue, 20 Aug 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59770