TMI Blog2014 (6) TMI 151X X X X Extracts X X X X X X X X Extracts X X X X ..... erprise - There are regular checks and unrecorded sale is not possible – AO has not brought any evidence on record or instance of unrecorded sale - Since the appeal is not admitted, any opinion is not being expressed - facts and circumstances appearing from the records are enough as to why should the Court to be refrained from admitting the appeal – Decided against Revenue. - ITAT No. 3 of 2014, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... w our attention to a judgment in the case of Commissioner of Income Tax Vs. West Bengal Infrastructure Development Finance Corporation Ltd., wherein the following view was taken. Looking to the amount of tax involved in this case, we are of the view that the High Court ought to have decided the matter on the merits. In all such cases where there is delay on the part of the Department, we requ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d on merits of deleting the addition of Rs.44,21,868/- being the prior period of expenses which was allowed by the Commissioner of Income Tax (Appeal). IV. For that the learned Tribunal erred in law by not deciding the ground on merits by deleting addition of Rs.4,63,858/- made under section 14A read with Rule 8D of the Income Tax Rule, 1962, which was allowed by the Commissioner of Income Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not brought any evidence on record or instance of unrecorded sale by the appellant. The shortage of stock is a regular business loss and has to be allowed to the appellant. Therefore, the addition of Rs.3,44,76,729/- is hereby deleted. The additions made by the Assessing Officer is on the following basis: Stock Short of Iron Ore- 31371 M.T. (Rs.58,03,635/-) and Short stock of Sponge Iron- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... added to the total income. We have undertaken the aforesaid exercise in deference to the judgment cited by Mr. Bhowmik. Since we are not inclined to admit the appeal, we refrain from expressing any opinion. The facts and circumstances appearing from the records indicated above are enough in our view why we should refrain from admitting the appeal. The appeal is therefore dismissed. In view ..... X X X X Extracts X X X X X X X X Extracts X X X X
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