Held that  the assessee had furnished details of stock and work-in-progress to the Assessing Officer during the assessment proceedings which clearly reflected interest included in it. The assessee had clearly demonstrated both to the Assessing Officer and the Principal Commissioner that the valuation of closing stock of work-in-progress was in accordance with the method of accounting followed by it, i. e., project completion method and that all costs relating to incomplete projects as at the end of the year, including interest cost, were included in the valuation of work-in-progress. No infirmity had been pointed out by the Principal Commissioner in the explanation of the assessee. Revision is held to be not valid. (AY.2015-16)