https://www.taxtmi.com/caselaws?id=60262 The Tribunal ruled that the subsidy received by the assessee should not be included in determining the market rate for valuing the closing stock of superphosphate. The subsidy was not considered part of the sale, did not accrue simultaneously with the sale, and revaluing the closing stock would not impact the overall tax liability due to the flat tax rate. Therefore, the revaluation of the closing stock was deemed inappropriate. en-us Tue, 30 Aug 1983 00:00:00 +0530 Tue, 04 Jan 2011 14:39:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60262 The Tribunal ruled that the subsidy received by the assessee should not be included in determining the market rate for valuing the closing stock of superphosphate. The subsidy was not considered part of the sale, did not accrue simultaneously with the sale, and revaluing the closing stock would not impact the overall tax liability due to the flat tax rate. Therefore, the revaluation of the closing stock was deemed inappropriate. Case-Laws Income Tax Tue, 30 Aug 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60262