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TMI Blog2013 (4) TMI 141X X X X Extracts X X X X X X X X Extracts X X X X ..... value of the stock should be considered for assessment only at the hands of one company. When the appeal of the holding company was heard, learned Senior counsel appearing for the assessee after taking instructions from the subsidiary company submitted that in the Income Tax Appeal that was pending against the assessment of closing stock of the subsidiary company, they will not press that ground ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... COME TAX RESPONDENT(S): BY ADV. SMT. ANITA RAMACHANDRAN ADV. SRI. K. ANAND JUDGMENT RAMACHANDRAN NAIR, J. The connected appeals are filed by the Revenue raising a major objection in the assessee pressing a ground before the Tribunal contrary to the undertaking given in this Court while disposing of the assessment appeal, namely ITA No.99/2011, against the holding company. T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing for the assessee after taking instructions from the subsidiary company submitted that in the Income Tax Appeal that was pending against the assessment of closing stock of the subsidiary company, they will not press that ground thereby accepting the closing stock of that company to be treated as opening stock for assessment. We accordingly disposed of I.T.A. No.99/2009 filed against the holding ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent and the matter was argued on merit, which led to impugned orders issued by the Tribunal. The consequence of this conduct of the assessee is that the Department was disabled from contesting the Tribunal's order at the hands of the holding company and the Department's appeal was dismissed. In the normal course, we should have imposed heavy cost on the assessee for this attitude, which we depre ..... X X X X Extracts X X X X X X X X Extracts X X X X
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