PR COMMISSIONER OF INCOME TAX CENTRAL LUDHIANA vs. M/S STELCO STRIPS LTD

ITA-200 of 2016 a

IN THE

The Pr. Commi

M/s Stelco Strip 2. ITA- 445

The Pr. Commi

M/s Stelco Strip

CORAM: HO

Present: Mr

for

** SANJEEV PRA 1.

Th wherein challen 2009-2010; imp 2009 whereby Commissioner Income Tax Ap for facility of re and 445 of 2019 HIGH COURT OF PUNJAB A

CHAND of 2016 issioner of Income Tax (Central) Vs.

ps Ltd.

5 of 2019 issioner of Income Tax (Central) Vs.

ps Ltd.

Da ON’BLE MR. JUSTICE SANJ ON’BLE MRS. JUSTICE SUD r. Saurabh Kapoor, Sr. Standing r the appellant (s) r. Sandeep Goyal, Advocate or the respondent. ** AKASH SHARMA, J.(Oral) his order shall dispose of the a nge is to the order dated 05.01. pugned order dated 30.04.2019 appeal (s) filed by the revenu of Income Tax (Appeals)-2, ppellate Tribunal, Chandigarh, eference, the facts are being take AND HARYANA AT DIGARH ) Ludhiana . . . . Appellant

. . . . Respondent ) Ludhiana . . . . Appellant

. . . . Respondent ate of decision:-14.05.2024 JEEV PRAKASH SHARMA DEEPTI SHARMA counsel above two Income Tax Appea .2016 relating to assessment ye relating to assessment year 200 ue against the orders passed b Chandigarh were dismissed b Bench-B, Chandigarh. Howeve en from ITA No. 200-2016.

t t als ar 8- by by er, Gaurav Arora 2024.05.18 12:30 I attest to the accuracy and integrity of this document

ITA-200 of 2016 a

Le course of assess bills to justify t officer on acco deleted by CIT 3.

We deciding the app “Th mistake in rectified. T books of a the asesse filling a r accepted t backed by proceeding re-valuatio without an observatio assessee Therefore, therefore, mistake th wrong valu closing sto pointed ou upon by L assessee w when asse original re and 445 of 2019 earned counsel for the appellan sment proceedings, the assessee the valuation of stocks, and the ount of unexplained revaluation (A) and the learned ITAT. e have considered the submissio peal preferred by the revenue he e assessee, therefore, explained the data given for valuation of The assessee produced comple account along with bills and vo ee and material was submitted t remand report. The Assessing the claim of assessee that exp y the documents and eviden gs. Thus, the sole objection of th on of the stock made by the ass ny evidence was without any jus on of the Assessing Officer have in the remand proceedings nothing survives in favour of rightly contended that the revise at has crept in the original retu uation. Thus, there was no chang ock. No defects in the accounts ut at the remand proceedings, th Ld. DR are clearly distinguishab was, therefore, justified in filling essee discovered omission or wr eturn of income. nt has submitted that during th had not filed any proof by way o e additions made by the assessin n of stocks, could not have bee ons and find that the ITAT whi eld as under:- d that it was a omission and f the closing stock which was ete details supported by the ouchers. The submissions of to the Assessing Officer for Officer in remand report planation of the assessee is nces filed in the remand he Assessing Officer that the sessee in the revised return stification and basis and the been specifically met by the before Assessing Officer. f the revenue. The assessee, ed was filed to correct urn of income on account of ge in method of valuation of s of the assessee have been herefore, the decisions relied ble on facts of the case. The g revised return within time rong statement made in the

he of ng en ile Gaurav Arora 2024.05.18 12:30 I attest to the accuracy and integrity of this document

ITA-200 of 2016 a

Th appellate author 5.

No dismissed. 6.

May 14, 2024 G Arora

and 445 of 2019 he findings arrived at are pure q rity and this Court would not exa o question of law arises in the p nding applications, if any, is/are [SANJEEV [SUDE Whether speaking/reason Whether reportable questions of facts decided by th amine pure questions of facts. present appeals and the same a also disposed of.

PRAKASH SHARMA] JUDGE

EEPTI SHARMA] JUDGE ned : Yes/No : Yes/No

he re Gaurav Arora 2024.05.18 12:30 I attest to the accuracy and integrity of this document