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2021 (10) TMI 954 - ITAT DELHIUndervaluation of closing stock of free sugar, levy sugar and molasses on account of non-inclusion of education cess and higher education cess - Application of provision of section 145A - CIT-A directed the AO to consider the opening value of the stock for the next year which is the closing stock for the current year as per the revised valuation - HELD THAT:- Since the ld. CIT(A), while deciding the issue has followed the order of his predecessor for A.Y. 2011-12 in assessee's own case and the ld. Counsel for the assessee could not throw any light as to the fate of such order, therefore, considering the totality of the facts of the case and in the interest of justice, we deem it proper to restore the issue to the file of the CIT(A) with a direction to find out as to what is the fate of the issue in A.Y.s 2008-09 and 2011-12. He shall decide the issue on the basis of the order for A.Y.s 2008-09 and 2011-12 which has been followed by the CIT(A) and as per fact and law, after giving due opportunity of being heard to the assessee. We hold and direct accordingly. The Grounds of appeal No. 1 and 2 raised by the assessee are accordingly allowed for statistical purposes. Correct head of income - AO treating interest earned from Cooperative Societies and Bank as income from other sources instead of business income - HELD THAT:- This ground of appea taken by the assessee is decided against the assessee by the order of the Tribunal in assessee's own case for AY 2001-02. In view of the above submission by the ld. Counsel for the assessee and in absence of any objection from the side of the ld. DR, the ground No. 3 raised by the assessee is dismissed.
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