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TAXAP/267/2010 2/ 2 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
TAX
APPEAL No. 267 of 2010
=========================================================
INCOME
TAX OFFICER WARD 1 BHARUCH NOW REPRESENTED BY - Appellant(s)
Versus
GUJARAT
BOROSIL LTD - Opponent(s)
=========================================================
Appearance
:
MR
KM PARIKH
for
Appellant
None for
Opponent
=========================================================
CORAM
:
HONOURABLE
MR.JUSTICE AKIL KURESHI
and
HONOURABLE
MS JUSTICE SONIA GOKANI 4th July 2011
ORAL
ORDER
(Per
: HONOURABLE MR.JUSTICE AKIL KURESHI)
Revenue is in appeal
against the judgment of the Tribunal dated 12th November
2008, raising following question for our consideration :-
“Whether
on the facts and in the circumstances of the case, the Tribunal was
right in law to exclude the Excise Duty at the time of valuing
closing stock at the end of accounting ?”
We
have noticed that similar issue has been considered by this Court in
the case of Assistant Commissioner of Income-Tax vs. Narmada
Chematur Petrochemicals Limited, 327 ITR 369. Following the
decision in the case of Narmada Chematur Petrochemicals Limited
[Supra], Tax Appeal No. 1277 of 2006 also came to be dismissed
by the Division Bench of this Court on 25th March 2011
involving similar issue.
The issue being covered
against the Revenue, this Tax Appeal stands dismissed.
{Akil
Kureshi, J.}
{Ms.
Sonia Gokani, J.}
Prakash*
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