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2019 (11) TMI 1055 - ITAT COCHINValuation of closing stock - HELD THAT:- Once the AO agreed that the figures of production and sales furnished originally out of total production as per assessee’s register is only 90,620 kgs. as on 31.3.2011, still he sustained the addition of ₹ 13,47,71,926, which is not proper. AO, though, himself satisfied about the correctness of the value of stock shown by the assessee in its return of income, he still wants to sustain the addition on the basis of the objections raised by the Tax Auditors, which is improper and unjustifiable. Accordingly, we agree with the finding of the CIT(A) in deleting the addition on this count.
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