1996 (7) TMI 51 - HC - Income Tax

Summary

The High Court of Kerala ruled in favor of the assessee regarding the deletion of an addition towards suppression of closing stock. The controversy involved damaged goods in the export of sea food business. The Tribunal's decision was upheld based on concurrent acceptance by fact-finding authorities. The Revenue's questions were answered in favor of the assessee. The judgment will be sent to the Income-tax Appellate Tribunal for further action.