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2018 (6) TMI 451 - BOMBAY HIGH COURTMethod of accounting - valuation of stock - question of law or fact - Held that:- Revenue was not able to show that the inventories were acquired out of borrowings and interest was to be capitalized keeping in view AS-16, issued by ICAI - following the decision of the Apex Court in COMMISSIONER OF INCOME-TAX VERSUS BRITISH PAINTS INDIA LIMITED [1990 (12) TMI 2 - SUPREME COURT], itself the Apex Court has indicted what is profit or trade or business and how it is to be ascertained and the questions analogous to the same, as involved in the present appeal, are essentially questions of fact - thus here no question of law is involved and we are only called upon to adjudicate the questions of fact, the appeal cannot be entertained and the same is dismissed.
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