2017 (8) TMI 188

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..... e 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, t .....

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..... d in the value of the closing stock thereby violating the provisions of section 145A ?" Income Tax Appeal No. 605 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 justified in deleting the addition of 2% of the total value of raw materials, stores and spares in closing stock made u/s 145A of .....

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..... 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 submitted by the Assessing Officer, wherein, in one report it was stated that the provision for excise duty was made in the closing stock, and in other, it was al .....

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..... #39;). The Tribunal could not have allowed the claim of the assessee on account of delayed payment of PF and for delayed payment of ESIC of employees' contribution. 5. Learned Counsel for the respondent supports the order and submits that as far as first two issues in Appeal No. 552 of 2015 are concerned, the same are covered by the Judgment of this Court in the assessee's own case for th .....

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..... e order of Tribunal, deleting the addition of excise duty is concerned, the same appears to be on the basis of report of the Comptroller & Auditor General of India. The apecial audit was done under Section 142(2A) of the Act. The special auditor in his report also stated that the tax impact is nil. The Tribunal has considered the tax report. The tax audit report of the statutory auditor and the au .....

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