Itr/26/2000 Of The Commissioner Of Income Tax v. M/S Central Stores

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 21ST FEBRUARY 2008 / 2ND PHALGUNA 1929 ITR.No. 26 of 2000() -------------------- (RA 232/COCH/98 IN ITA NO. 1042/COCHIN/91 OF ITAT,COCHIN BENCH,COCHIN) APPLICANT: ----------- THE COMMISSIONER OF INCOME TAX, TRIVANDRUM. BY ADV. SRI.P.K.R.MENON(SR.),SR.COUNSEL FOR IT SRI.GEORGE K. GEORGE, SC FOR IT RESPONDENTS: ------------- M/S. CENTRAL STORES, KOTTAYAM. BY ADV. SRI.JOHN RAMESH K.I.JOHN THIS TAX REFERENCE HAVING BEEN FINALLY HEARD ON 21/02/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C .N. RAMACHANDRAN NAIR &T.R. RAMACHANDRAN NAIR, JJ. -------------------------------------------- I.T.R. No. 26 OF 2000 -------------------------------------------- Dated this the 21st day of February, 2008 JUDGMENT C.N. Ramachandran Nair,J. Heard standing counsel for the applicant and counsel appearingfor the respondent. The question referred to us pertains to addition onaccount of difference between the cash balance shown in the cash bookand in the Balance Sheet. We find that the Tribunal has given a findingthat there is cash balance available with the assessee on account ofaddition made in the assessment for the year 1982-83. According tocounsel, since accounts were closed for subsequent years, it could beintroduced only for the assessment year 1985-86. Since the tribunal onfacts found that the explanation was acceptable, we do not think anyquestion of law arising from the finding of Tribunal on these facts. Wetherefore answer the question referred against the department and infavour of the assessee. A copy of this judgment shall be forwarded to the Income Tax Appellate Tribunal, Cochin Bench, Cochin. (C.N.RAMACHANDRAN NAIR)Judge. (T.R.RAMACHANDRAN NAIR) Judge. kk