{"id":214824,"date":"2011-07-04T00:00:00","date_gmt":"2011-07-03T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/income-vs-unknown-on-4-july-2011"},"modified":"2015-05-14T04:31:08","modified_gmt":"2015-05-13T23:01:08","slug":"income-vs-unknown-on-4-july-2011","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/income-vs-unknown-on-4-july-2011","title":{"rendered":"Income vs Unknown on 4 July, 2011"},"content":{"rendered":"<div class=\"docsource_main\">Gujarat High Court<\/div>\n<div class=\"doc_title\">Income vs Unknown on 4 July, 2011<\/div>\n<div class=\"doc_author\">Author: Akil Kureshi, Gokani,<\/div>\n<pre>  \n Gujarat High Court Case Information System \n    \n  \n    \n\n \n \n    \t      \n         \n\t    \n\t\t   Print\n\t\t\t\t          \n\n  \n\n\n\t \n\t \n\t \n\t \n\t \n\t \n\t \n\t \n\t \n\t \n\t \n\t\n\n\n \n\n\n\t \n\nTAXAP\/267\/2010\t 2\/ 2\tORDER \n \n \n\n\t\n\n \n\nIN\nTHE HIGH COURT OF GUJARAT AT AHMEDABAD\n \n\n \n\n\n \n\n \n\n\n \n\nTAX\nAPPEAL No. 267 of 2010\n \n\n \n \n=========================================================\n\n \n\nINCOME\nTAX OFFICER WARD 1 BHARUCH NOW REPRESENTED BY - Appellant(s)\n \n\nVersus\n \n\nGUJARAT\nBOROSIL LTD - Opponent(s)\n \n\n=========================================================\n \nAppearance\n: \nMR\nKM PARIKH\nfor\nAppellant \nNone for\nOpponent \n=========================================================\n \n\n \n\n \n\n\n \n\t  \n\t \n\t  \n\t\t \n\t\t\t \n\nCORAM\n\t\t\t: \n\t\t\t\n\t\t\n\t\t \n\t\t\t \n\nHONOURABLE\n\t\t\tMR.JUSTICE AKIL KURESHI\n\t\t\n\t\n\t \n\t\t \n\t\t \n\t\t\t \n\nand\n\t\t\n\t\n\t \n\t\t \n\t\t \n\t\t\t \n\n HONOURABLE\n\t\t\tMS JUSTICE SONIA GOKANI   4th July 2011\n\t\t\n\t\n\n \n\n ORAL\nORDER<\/pre>\n<p> (Per<br \/>\n: HONOURABLE MR.JUSTICE AKIL KURESHI)<\/p>\n<p>Revenue is in appeal<br \/>\nagainst the judgment of the Tribunal dated 12th November<br \/>\n2008, raising following question for our consideration :-\n<\/p>\n<p>&#8220;Whether<br \/>\non the facts and in the circumstances of the case, the Tribunal was<br \/>\nright in law to exclude the Excise Duty at the time of valuing<br \/>\nclosing stock at the end of accounting ?&#8221;\n<\/p>\n<p>\tWe<br \/>\nhave noticed that similar issue has been considered by this Court in<br \/>\nthe case of <a href=\"\/doc\/1721358\/\">Assistant Commissioner of Income-Tax vs. Narmada<br \/>\nChematur Petrochemicals Limited,<\/a> 327 ITR 369. Following the<br \/>\ndecision in the case of Narmada Chematur Petrochemicals Limited<br \/>\n[Supra], Tax Appeal No. 1277 of 2006 also came to be dismissed<br \/>\nby the Division Bench of this Court on 25th March 2011<br \/>\ninvolving similar issue.\n<\/p>\n<p>The issue being covered<br \/>\nagainst the Revenue, this Tax Appeal stands  dismissed.\n<\/p>\n<p>{Akil<br \/>\nKureshi, J.}<\/p>\n<p>{Ms.\n<\/p>\n<p>Sonia Gokani, J.}<\/p>\n<p>Prakash*<\/p>\n<p>\t\t   \u00a0\u00a0\u00a0<\/p>\n<p>\t\t   Top<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gujarat High Court Income vs Unknown on 4 July, 2011 Author: Akil Kureshi, Gokani, Gujarat High Court Case Information System Print 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 &#8211; Appellant(s) Versus GUJARAT BOROSIL LTD [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16,8],"tags":[],"class_list":["post-214824","post","type-post","status-publish","format-standard","hentry","category-gujarat-high-court","category-high-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Income vs Unknown on 4 July, 2011 - Free Judgements of Supreme Court &amp; 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