Parties. Perused Appeal v. M/S.the Mahalaxmi Glass Works

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 302 OF 2009 The Commissioner of Income-tax-8, Mumbai. ... Appellant. V/s.Kolsite Maschine Fabrik Ltd. ... Respondent. Suresh Kumar for the appellant. S.E.Dastur, senior counsel with Nitesh Joshii/b. A.K.Jasani for the respondent. CORAM : V.C.DAGA AND J.P.DEVADHAR, JJ. DATED : 20th April 2009. P.C. :---- .Heard learned counsel for the rival parties. Perused appeal. 2.The Tribunal whileconsidering thesubmission made on the basis of section 145A of theIncome Tax Act, 1961 ruled that if there was anychange in the closing stock at the end of the year,then there must necessarily be a correspondingadjustment made in the opening stock of that year.The said view is in consonance with the view taken bythe Division Bench of this Court in I.T.AppealNo.192/2009 (C.I.T. v. M/s.The Mahalaxmi Glass Works C.I.T. v. M/s.The Mahalaxmi Glass Works Pvt.Ltd.) decided on 1st April, 2009. 3.In the above view of the matter, nosubstantial question of law is involved in this appeal. Appeal is dismissed in limine with no order as to costs. (J.P.DEVADHAR, J.) (V.C.DAGA J.)