ACIT, CHENNAI vs. M/S. STERLITE INDUSTRIES (INDIA) LTD., TUTICORIN

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./Ita No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./Ita No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07

price by changing the method of accounting. However, when the assessee was consistently following the same, there will be revenue neutral, hence there cannot be loss to the Revenue. Therefore, this Tribunal is of the considered opinion that the CIT(Appeals) has rightly allowed the claim of the assessee under the provisions of Section 145A of the Act. This Tribunal

ACIT, CHENNAI vs. M/S STERLITE INDUSTRIES (INDIA) LTD., TUTICORIN

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./Ita No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./Ita No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07

price by changing the method of accounting. However, when the assessee was consistently following the same, there will be revenue neutral, hence there cannot be loss to the Revenue. Therefore, this Tribunal is of the considered opinion that the CIT(Appeals) has rightly allowed the claim of the assessee under the provisions of Section 145A of the Act. This Tribunal

ACIT, CHENNAI vs. M/S. STERLITE INDUSTRIES (INDIA) LTD., TUTICORIN

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./Ita No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./Ita No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07

price by changing the method of accounting. However, when the assessee was consistently following the same, there will be revenue neutral, hence there cannot be loss to the Revenue. Therefore, this Tribunal is of the considered opinion that the CIT(Appeals) has rightly allowed the claim of the assessee under the provisions of Section 145A of the Act. This Tribunal

ACIT, CHENNAI vs. M/S STERLITE INDUSTRIES (INDIA) LTD., CHENNAI

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./Ita No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./Ita No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07

price by changing the method of accounting. However, when the assessee was consistently following the same, there will be revenue neutral, hence there cannot be loss to the Revenue. Therefore, this Tribunal is of the considered opinion that the CIT(Appeals) has rightly allowed the claim of the assessee under the provisions of Section 145A of the Act. This Tribunal

M/S. SWATHI TRADERS,,TIRUPUR vs. ACIT, CIRCLE-2,, TIRUPUR

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Shri Mahavir Singhand Shri G. Manjunathaआयकरअपीलसं./Ita No.: 738/Chny/2020 िनधा"रण वष"/Assessment Year: 2014 - 15 M/S. Swati Traders, The Acit, 6/8, College Road, Vs. Circle -2, 1St First Cross, Tirupur. Tirupur – 641 602. Pan: Abvfs 9743E (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri T. Banusekar, Ca ""यथ" क" ओर से/Respondent By : Shri Ar.V. Sreenivasan, Addl.Cit सुनवाई क" तार"ख/Date Of Hearing : 31.10.2022 घोषणा क" तार"ख/Date Of Pronouncement : 31.10.2022 आदेश /O R D E R Per Mahavir Singh: This Appeal By The Assessee Is Arising Out Of The Order Of The Commissioner Of Income Tax (Appeals)-2, Coimbatore-3 In Appeal No.Cit(A),Coimbatore-3/10448/2016-17 Dated 28.07.2020. The Assessment Was Framed By The Acit, Circle-2, Tirupur For The Assessment Year 2014-15 U/S.143(3) Of The Income Tax Act, 1961 (Hereinafter The ‘Act’) Vide Order Dated 27.12.2016. 2. The Only Issue In This Appeal Of Assessee Now Argued Before Us Is That The Cit(A) Erred In Upholding The Addition Made By The Ao Being Difference In Valuation Of Closing Stock Of Gold Ornaments At Rs.6,53,24,552/-. For This, Assessee Has Raised Various Grounds Running Into 13 Numbers But All Those Are Argumentative, Exhaustive & Hence, Need Not Be Reproduced.

transfer are notional, the purchases from third parties are considered and therefore, he adopted the valuation of closing stock of gold ornament at the rate of Rs.2850 per gram by taking the following:- 01.04.2013 Gajaananda Jewellery Mart India Pvt. Ltd. Rs.2835.41 14.03.2013 Surana Corporation LTd Rs.2862.00 24.09.2013 Mohanlal Jewellers Ltd Rs.2855.58 30.09.2013 Mohanlal Jewellers Ltd Rs.2847.21 30.12.2013 Emerald Jewellery India