TMI Blog2018 (11) TMI 1331X X X X Extracts X X X X X X X X Extracts X X X X ..... e Assessment Year 20072008. In response to such notice, Shri Tushar Hemani, learned counsel appeared for the assessee pointed out that the Tribunal orders for the Assessment Year 2007-2008 concerning two issues; one was the deployment of LIFO method for valuation of closing stock and the other was the portion declared by the assessee at the time of survey which remain unsold and which had come to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... : HONOURABLE MR.JUSTICE AKIL KURESHI) 1. Revenue has challenged the order of the Income Tax Appellate Tribunal, Ahmedabad, dated 30.5.2017 raising the following question for our consideration. Whether on the facts and circumstances of the case and in law, the Hon ble Appellate Tribunal is justified in upholding the decision of the Ld. CIT(A) of approving the method of the assesse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e closing stock valuation. 3. The assessee carried the matter in appeal and the CIT(Appeal) noted the following such methods since several years. That even otherwise such method is recognised in law and the Assessing Officer ought not to have disturbed the same. 4. The Revenue filed an appeal before the Income Tax Appellate Tribunal, Ahmedabad, challenging the order of CIT(Appeal). The Tribu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the CIT(Appeal) and the remand was merely for the purpose of later issue. 6. We have perused the order of the Tribunal for the Assessment Year 2007-2008 and confirmed this position. It is therefore not necessary to remand the matter for proceedings. 7. The sole question arises in the present appeal is therefore confined to LIFO method. The CIT(Appeal) concurrently held that such method was a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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