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2008 (1) TMI 526 - AT - Income TaxExtract: .......ence will be against the assessee. We therefore in view of the aforesaid discussion are of the view that the Assessing Officer has rightly valued the closing stock of the polished diamonds at average cost by adopting per carat rate and accordingly confirm the order of the Assessing Officer. 8. In the result, the appeal of the assessee is dismissed.
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