Jharkhand High Court
M/S Sreeleathers vs Assistant Commissioner Of Inco on 25 July, 2012
Bench: Chief Justice, Jaya Roy
IN THE HIGH COURT OF JHARKHAND AT RANCHI T.A No. 31 of 2010 M/s. Sreeleathers Vs. Assistant Commissioner of Income Tax,Circle III, Jamshedpur CORAM: HON'BLE THE CHIEF JUSTICE HON'BLE MRS. JUSTICE JAYA ROY For the Appellant/Petitioner : Mr.B.Poddar, Snr.Adv.
For the Respondents : Mr.D.Roshan,SSC
Order No.6 th
Dated 25
July, 2012
The following questions of law are involved in this appeal: (A) Whether the finding recorded by the learned ITAT that survey was conducted just after the annual sale is perverse and contrary to records because as a matter of fact the survey was conducted just before the Annual (clearance) sale ?
(B) Whether the learned ITAT erred in law in not considering the submission of the appellant to the effect that the stock was valued on the basis of Maximum Retail Prices (MRP) indicated for the items displayed for sale and also in not considering the submissions of the appellant to the effect that some of the items of stock were obsolete or old and therefore should have been valued at much lower value than MRP ?
(C) Whether levy of interest under section 234B and 234C of the Income Tax Act, 1961 is contrary to law laid down by the Full Court of Patna High Court in the case of Smt. Tej Kumari & Ors. Vs. Commissioner of Income Tax, Ranchi & Ors. reported in 2000 (3) BLJR 2290 ?
Admit.
No need to issue notice to the respondents as the respondents have put in appearance.
Put up this case for hearing at its turn.
(Prakash Tatia, C.J.) (Jaya Roy, J.) dey