Ita/174/2002 Of M/S.premier Steels v. Commissioner Of Income Tax

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE T.R.RAMACHANDRAN NAIR THURSDAY, THE 31ST JANUARY 2008 / 11TH MAGHA 1929 ITA.No. 174 of 2002() --------------------- ITA.178/1997 of I.T.A.TRIBUNAL,COCHIN BENCH .................... : APPELLANT -------------------------- M/S.PREMIER STEELS,JEWS STREET, ERNAKULAM BY ADV. SRI.T.M.SREEDHARAN RESPONDENTS: ------------- THE COMMISSIONER OF INCOME TAX,COCHIN, C.R.BUILDING,I.S.PRESS ROAD,COCHIN-18 BY ADV. SRI.P.K.R.MENON(SR.),SR.COUNSEL FOR IT SRI.GEORGE K. GEORGE, SC FOR IT THIS INCOME TAX APPEAL HAVING BEEN FINALLY HEARD ON 31/01/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.N. Ramachandran Nair &T.R. Ramachandran Nair, JJ. - - - - - - - - - - - - - - - - - - - - - - - - I.T.A.NO.174 of 2002 - - - - -- - - - - - - - - - - - - - - - - - - - - Dated this the 31[st] day of January, 2008. JUDGMENT C.N. Ramachandran Nair, J. The question raised pertains to estimation of closing stock value. Theassessment is based on materials gathered on inspection and statementsobtained by the department from the bank which were furnished by theappellant. The first appellate authority modified the valuation. We do notfind any question of law much less any substantial question of law arisingfrom the order of the Tribunal on the question of valuation of closing stock. Therefore, the appeal is dismissed. (C.N. Ramachandran Nair, Judge.) (T.R. Ramachandran Nair, Judge.) kav/ -2- C.N. Ramachandran Nair & &T.R. Ramachandran Nair, JJ. - - - - - - - - - - - - - - - - - - - - - -I.T.A. No.174 of 2002- - - - - - - - - - - - - - - - - - - - - - JUDGMENT 31[st] January, 2008.