TMI Blog2017 (8) TMI 188X X X X Extracts X X X X X X X X Extracts X X X X ..... e of closing stock stands nil. - No additions - Decided against the revenue. - Income Tax Appeal No. 552, 605, 607 of 2015 - - - Dated:- 25-7-2017 - S. V. Gangapurwala And A. M. Badar, JJ. Mr. A. R. Malhotra a/w Mr. N. A. Kazi, for the Appellant Mr. K. Gopal a/w Mr. Jitendra Singh, for the Respondent ORDER P. C. 1. The present appeals pertain to the assessment year 1999-2000, 2004-2005 and 2003-2004, respectively. 2. The appeals filed by the Revenue are dismissed by the Tribunal. 3. The appeals are filed on following grounds. Income Tax Appeal No. 552 of 2015 is filed on following questions of law. (i) whether, on the facts and in the circumstances of the case and in law, the Hon'ble Tribunal was ju ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ibution amounting to ₹ 2,50,39,240/by relying on the decision of Hon'ble Bombay High Court in Assessee's own case for A.Y. 2006-07 reported in 366 ITR 1 ? Income Tax Appeal No. 607 of 2015 is filed on following question of law. (i) Whether, on the facts and in the circumstances of the case and in law, the Hon'ble Tribunal is right in allowing the claim of the Assessee on account of delayed payments of P.F. And ESIC of employees' contribution amounting to ₹ 76,17,656/by relying of the decision of Hon'ble Bombay High Court in Assessee's own case for A.Y. 2006-07 reported in 366 ITR 1 ? 4. Mr. Malhotra, learned Counsel for the Appellant strenuously contends that two contradictory reports sub ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the inclusion of the excise duty in the closing stock is concerned, the accounting is done as per Section 145A of the Act and the audit was done and the auditor also stated that the impact of tax is nil. 6. We have considered the submissions. 7. As far as first two issues in Appeal No.552 of 2015 are concerned, the same are covered by the order of this Court in the assessee's own case for the assessment year 2008-2009 in Income Tax Appeal No. 1574 of 2013 dated 8th September, 2015. Said questions are decided against the Revenue and in favour of the assessee. The same questions are raised in Appeal Nos. 605 of 2015 and 607 of 2015. 8. As far as the order of Tribunal, deleting the addition of excise duty is concerned, the same ap ..... X X X X Extracts X X X X X X X X Extracts X X X X
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