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2021 (7) TMI 747 - HC - Income TaxAddition on account of discrepancy in stock and being estimated value of scrap - HELD THAT:- A clear that on the basis of the findings recorded by the ITAT for the A.Y. 2005-06, in the earlier part of the impugned order, it has dismissed the appeal of the revenue for the A.Y. 2006-07. It has been observed by the ITAT that the addition with regard to the value of discrepancy of stock by the Assessing Officer was based on the arithmetic calculation and conversion of stock maintained in Metric tonne into sq. mtrs. and therefore there has to be variation in the working of the assessee, which was filed as the Assessing Officer wanted the same in a particular format. It has been further observed by the ITAT that the Assessing Officer has not brought out any defects in maintenance of books of accounts and therefore, mere arithmetic calculation made is not suffice for making addition. It is true that the reasons given in impugned order passed by the Tribunal are not happily worded and the order could have been passed using better and accurate language, nonetheless the findings recorded by the ITAT being findings of fact, the appeal cannot be entertained in absence of any substantial question of law being involved in the same. It may be noted that the Appeal under Section 260A could be admitted only on the High Court being satisfied that the case involves a substantial question of law.
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