INCOME TAX OFFICER, WARD - 2 (1),, VARANASI vs. PROMINENT DATAMATICS MARKETING PVT. LTD., , VARANASI

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

88,328/- minus Rs.21,97,16,115/-) shall not be disallowed and added to its total income and brought to tax accordingly. As the assessee company did not respond at all hence I have decided to add Rs.8,22,70,213/- to the total income of the assessee companyPenalty proceedings has been initiated u/s 272A(1)(d) for non-compliancewith

OM PRAKASH JAISWAL,,GORAKHPUR vs. INCOME TAX OFFICER, WARD - 1(3),, GORAKHPUR

In the result, both the appeals of the assessee are partly allowed

Bench: Shri B.R. Baskaran (Am) & Shri Amit Shukla (Jm)

88,02,119/-. There should not be any dispute that the value of closing stock shown as on 31.3.2012 shall constitute opening stock as on 1.4.2012. Thus the assessee has shown excess stock of Rs. 1,09,948/- in the opening stock, the effect of which is that the profit of the year relevant to AY 2013-14 shall

SHRI OM PRAKASH JAISWAL, PROP. M/S. JAISWAL TRADING COMPANY, ,GORAKHPUR vs. INCOME TAX OFFICER, WARD-1(3), GORAKHPUR

In the result, both the appeals of the assessee are partly allowed

Bench: Shri B.R. Baskaran (Am) & Shri Amit Shukla (Jm)

88,02,119/-. There should not be any dispute that the value of closing stock shown as on 31.3.2012 shall constitute opening stock as on 1.4.2012. Thus the assessee has shown excess stock of Rs. 1,09,948/- in the opening stock, the effect of which is that the profit of the year relevant to AY 2013-14 shall