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2017 (11) TMI 462 - HC - Income TaxAddition on account of under valuation of stock - identification of defective stock and justification to its valuation at reduced rate - Held that:- CIT(A) has allowed the valuation on the basis of last years which was accepted by the assessee and the same was confirmed. In that view of the matter, the stock valuation method was used for the closing stock and we are of the opinion that no error has been committed by the CIT(A) and Tribunal. - Decided in favour of the assessee.
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