TMI Blog2015 (10) TMI 1417X X X X Extracts X X X X X X X X Extracts X X X X ..... has been allowed in favour of the assessee. Ld. DR fairly accepted that similar kind of issue for AY 2008-09 has been allowed by Hon’ble High Court in favour of the assessee and the relevant figures for verification on this limited issue for limited purpose have been remitted to the AO for verification - We clearly observe that the CIT(A) has also followed order of Hon’ble High Court and has dire ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts of both the sides and carefully perused the relevant material placed on record. Ld. Senior counsel for the assessee submitted a copy of the order of Hon ble High Court of Delhi in assessee s own case i.e. Suzuki Motorcycle (India) Pvt. Ltd. vs CIT 357 ITR 250 (Del) and submitted that similar kind of issue of inventory written off has been allowed in favour of the assessee. Ld. DR fairly accepte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dia are binding on both the assessee as well as the tax authorities under Section 145 of the Act. The only objection of the revenue, accepted by the Tribunal, is that the write off factor of 8.5% has not been proved by the assessee. The figures which are set out by the assessee in Annexure G show how the assessee arrived at the write off factor. These figures have to be verified by the Assessing o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ole issue in this appeal is squarely covered in favour of the assessee by the Hon ble High Court (supra) and we are unable to see any valid reason to interfere with the impugned order and we uphold the same. Accordingly, sole ground of the revenue being devoid of merits is dismissed. 4. In the result, the appeal of the revenue is dismissed. Order pronounced in the open court on 8.5.2015. - ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
