Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2011 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2011 (11) TMI 693 - AT - Income TaxIncorrect valuation of stock - Held that:- Revenue Department not only in past but in subsequent years also accepted the claim of the assessee. This stand of the AO would demolish all arguments of the learned DR. The findings of the learned CIT(A) on correct method of valuation adopted by the assessee have not been rebutted through any evidence on record. The learned CIT(A) on proper appreciation of the facts and material on record rightly followed the various orders of the Tribunal including the orders of jurisdictional ITAT Ahmedabad Bench in arriving at the just decision in the matter. We, therefore, do not find any justification to interfere with the order of the learned CIT(A). Considering the above discussion, we do not find any merit in the appeal of the revenue.
|