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2014 (2) TMI 320 - PUNJAB & HARYANA HIGH COURTUnder valuation of closing stock - Held that:- Relying upon the decision in CIT v. Fazilka Cooperative Sugar Mills Limited [2001 (10) TMI 50 - PUNJAB AND HARYANA High Court] - The company M/s Amritsar Rayon & Silk Mills Pvt. Limited filed a suit against the assessee on 11.3.2006 which had an adverse impact on the market value of the impugned asset. The revenue itself did not challenge the opening stock of the impugned asset in the subsequent assessment year, while passing the assessment order under Section 143(3) and accepted the same as contended by the learned 'AR' - Decided against Revenue.
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