Gujarat High Court Case Information System
Print
TAXAP/2333/2009 2/ 2 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
TAX
APPEAL No. 2333 of 2009
=========================================================
JT
CIT (ASST) SPECIAL RANGE-1 BARODA THROUGH - Appellant(s)
Versus
NEW
INDIA INDUSTRIES LTD - Opponent(s)
=========================================================
Appearance
:
MR
KM PARIKH for
Appellant(s) : 1,
None for Opponent(s) :
1,
=========================================================
CORAM
:
HONOURABLE
MR.JUSTICE AKIL KURESHI
and
HONOURABLE
MS JUSTICE SONIA GOKANI
Date
: 26/04/2011
ORAL
ORDER
(Per
: HONOURABLE MR.JUSTICE AKIL KURESHI)
Revenue
is in appeal against the judgment of the Tribunal dated 29.9.2008
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 as well as custom duty at the
time of valuing closing stock at the end of accounting period?”
Counsel
for the revenue fairly pointed out that identical issues have been
considered by this Court in the case of Assistant Commissioner of
Income Tax v. Narmada Chematur Petrochemicals Ltd. (2010)
327 ITR 369 (Guj.) and the Revenue’s appeal has been dismissed. He
also agreed that the assessment in question
pertains to the year 1997-98, that is, prior to the amendment in
section 145A of the Income Tax Act.
In
view of the above situation, without recording elaborate reasons, the
present Tax appeal is dismissed.
(Akil
Kureshi, J.)
(Ms.Sonia
Gokani, J.)
(vjn)
Top