Commissioner Of Income Tax vs M/S. Maithan Smelters Ltd on 22 December, 2008

[Cites 1, Cited by 2]

Calcutta High Court

Commissioner Of Income Tax vs M/S. Maithan Smelters Ltd on 22 December, 2008

Bench: Pinaki Chandra Ghose

                                                                                        1


                                 ITA No. 813 of 2008
                                 G.A.No.3796 of 2008
                            IN THE HIGH COURT AT CALCUTTA
                          Special Jurisdiction(Income Tax)
                                    ORIGINAL SIDE


    COMMISSIONER OF INCOME TAX, CENTRAL-I,KOL        Plaintiff/Petitioner/Applicant

         Versus

    M/S. MAITHAN SMELTERS LTD                    Defendant/Respondent

BEFORE:

The Hon'ble JUSTICE PINAKI CHANDRA GHOSE The Hon'ble JUSTICE SANKAR PRASAD MITRA Date : 22nd December, 2008.

The Court : After hearing the learned Advocates for the parties and perusing the application for condonation of delay, we are satisfied with the grounds stated in the petition. Accordingly, the delay is condoned. The application under section 5 of the Limitation Act is allowed. G.A.No. 3796 of 2008 is thus disposed of.

We now take up the application for admission of the appeal. After hearing the learned Advocate appearing in support of the appeal, the appeal is admitted and the following substantial question of law is referred for adjudication :

" Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal erred in law in upholding the order of the Commissioner of Income Tax (Appeals) in deleting the addition of Rs.8,58,749/- made by the Assessing Officer without appreciating the fact that the Assessing Officer had made addition on account of short fall in valuation of closing stock in absence of any explanation from the assessee in this regard?"

Mr. Chatterjee, learned Advocate appearing in support of the appeal submits that he is not pressing question (a) mentioned in paragraph-2 of the petition since this point has already been covered by the Apex Court. 2

Let paper book be prepared by the appellant and be served upon the respondent within four weeks after vacation.

Let the appeal appear six weeks after vacation. All parties concerned are to act on a xerox signed copy of the minutes of this order on the usual undertakings.

Urgent xerox certified copy of this order, if applied for, be supplied to the parties subject to compliance with all requisite formalities.

(PINAKI CHANDRA GHOSE, J.) (SANKAR PRASAD MITRA, J.) km

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