Assistant Commissioner of Income-tax Versus Satish Estate P. Ltd. - Income Tax - ITAT CHANDIGARH - Tri - Addition on account of undervaluation of closing stock of land The company M/s. Amritsar Rayon and Silk Mills P. Ltd. filed a suit against the assessee on March 11, 2006 which had an adverse impact on the market value of the impugned asset - The assessee had paid Rs. 70 lakhs to M/s. Amritsar Rayon and Silk Mills P. Ltd. - Held that - The Legal dispute has adversely impacted the price of la................................... Income Tax - Case Laws
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