https://www.taxtmi.com/caselaws?id=60788 The Tribunal upheld the Commissioner's decision to allow the assessee's change in valuation method for closing stock of tea, dismissing the department's challenge. The Tribunal also rejected the cross-objection challenging the constitutional validity of an Income-tax Rule, stating it lacked authority to declare statutes unconstitutional. Additionally, the Tribunal upheld the disallowance of the pension liability deduction, ruling that actuarially determined pension liability cannot be deducted until actual payment occurs. Both the department's appeal and the assessee's cross-objection were dismissed. en-us Wed, 20 Aug 1986 00:00:00 +0530 Sat, 08 Jan 2011 10:57:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60788 The Tribunal upheld the Commissioner's decision to allow the assessee's change in valuation method for closing stock of tea, dismissing the department's challenge. The Tribunal also rejected the cross-objection challenging the constitutional validity of an Income-tax Rule, stating it lacked authority to declare statutes unconstitutional. Additionally, the Tribunal upheld the disallowance of the pension liability deduction, ruling that actuarially determined pension liability cannot be deducted until actual payment occurs. Both the department's appeal and the assessee's cross-objection were dismissed. Case-Laws Income Tax Wed, 20 Aug 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60788