Ita/88/2002 Of The Commissioner Of Incometax, Kochi v. M/S.sreeyam Shares & Securities
High Court
11 Feb 2008 In favour of: Assessee
Forum / Bench
High Court · highcourtofkerala
Parties
Ita/88/2002 Of The Commissioner Of Incometax, Kochi v. M/S.sreeyam Shares & Securities
Date of order
11 Feb 2008
Assessment year(s)
—
Outcome
Dismissed
Case summary
In Ita/88/2002 Of The Commissioner Of Incometax, Kochi v. M/S.sreeyam Shares & Securities, the High Court (2008) dismissed the appeal. The decision went in favour of the assessee.
Decision: We therefore dismiss theappeal.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
The order — as passed by the High Court
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
MONDAY, THE 11TH FEBRUARY 2008 / 22ND MAGHA 1929
ITA.No. 88 of 2002()
--------------------
ITA.87/1997 of I.T.A.TRIBUNAL,COCHIN BENCH
....................
APPELLANT.
---------------------------
THE COMMISSIONER OF INCOME TAX,
COCHIN.
BY ADV. SRI.P.K.R.MENON(SR.),SC FOR IT
SRI.GEORGE K. GEORGE, SC FOR IT
RESPONDENTS:
-------------
M/S. SREEYEM SHARES & SECURITIES (P)
LTD., COCHIN.
BY
THIS INCOME TAX APPEAL HAVING BEEN FINALLY HEARD
ON 11/02/2008 THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
C .N. RAMACHANDRAN NAIR &T.R. RAMACHANDRAN NAIR, JJ.
--------------------------------------------
I.T.A. No. 88 OF 2002
--------------------------------------------
Dated this the 11th day of February, 2008
JUDGMENT
C.N. Ramachandran Nair,J.
The question raised in the appeal pertains to adoption of cost ofstock held by the assessee. We find that the Tribunal has confirmed theorder of the first appellate authority who adopted average cost for thepurpose of valuing the stock. We do not find any substantial questionof law arising from the order of the Tribunal. We therefore dismiss theappeal.
(C.N.RAMACHANDRAN NAIR)Judge.
(T.R.RAMACHANDRAN NAIR)
Judge.
kk
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