Assessing Officer Can't Reassess Accepted Stock Valuation by Commercial Tax Department, Lacks Authority to Challenge Declared Value.

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....Addition on account of valuation of stock - AO has no power to scrutinize the return submitted by the assessee to the commercial tax department which has been accepted. AO did not have any jurisdiction to go beyond the value of the closing stock declared by the assessee and accepted by the Commercial Tax Department. - AT....