Itxa/2547/2010 Of Ethe Commissionr Of Income-Tax,Mumbai-City-7 v. M/S Wmi Cranes Limited

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL(L)NO.1391 OF 2005 The Commissioner of Income-Tax Mumbai ..Appellant V/s. M/s.WMI Cranes Ltd.Mumbai ..Respondent Mr.A.D.Kango, Advocate, for Appellant None for Respondent CORAM : F.I.REBELLO &R.S.MOHITE,JJ. DATE : 4TH FEBRUARY, 2008 P.C. .We have heard advocate for the revenue.Perused the impugned order of the Tribunal. Thesubstantial question of law as framed is asunder :- “Whether on the facts and in the circumstances of the case in the law, the Hon'ble Tribunal erred in confirming the orderof the CIT(A) and directing the deletionofaddition of Rs.28,65,344/- made on account ofthe under valuation of the closingstockbychanging the method of accounting of thework in progress.” We find from the order that this assessment were made and carried upto the Tribunal for the assessment year 1996-97 and 1997-98. In thepresent assessment it was agreed by both theparties before the Tribunal that in these decisionsthe point raised was covered in favour of theassessee. The present assessment was for the year1998-99. It is not contended by revenue is thatthey have not accepted the decisions of the I.T.A.Tfor the previous two years in respect of the sameassessee. In our view, therefore, the point of lawraised does not arise. Hence, the appeal isdismissed. (R.S.MOHITE, J.) (F.I.REBELLO, J.)