9911796707
TMI Blog2011 (7) TMI 1354X X X X Extracts X X X X X X X X Extracts X X X X ..... ) Present appeal is preferred under Section 260-A of the Income Tax Act, 1961 (for short 'the Act') by the Revenue against the order of the Income Tax Appellate Tribunal, Ahmedabad (for short 'ITAT') dated 15/10/2009 with the following brief facts. 2. For the assessment year 2006-2007, the assessee company filed its return which was processed under Sect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f valuation of closing stock ?[B] Whether the Appellate Tribunal is right in law and on facts in confirming the order passed by CIT (A) deleting the disallowance of ₹ 78,790/- made under Section 36(1)(va) of the Act ? 5. On hearing learned Counsel for the Revenue and on perusal of the orders of the adjudicating authority, for the reasons to be following herein after this Court is of the opin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4. The Tribunal concurred with this finding and held that against the order of the CIT (A) for the assessment year 2005-2006, the Revenue did not prefer any appeal before the Tribunal and thus the order of the CIT (A) had become final. The Tribunal was also of the opinion that there being no change of any facts or circumstances, the CIT (A) adhered to its earlier stand and therefore the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... id not agree with this view of the Assessing Officer and the Tribunal relying on decision of the Delhi High Court in the case of CIT Vs. P M Electronics Ltd., (2009) 177 Taxman 1 (Del.) concurred with the findings of the CIT (A). There is a long discussion on the said aspect where reliance is also placed on the judgment of the Apex Court and various other High Courts. Without further burdening thi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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