Kerala High Court
The Commissioner Of Income Tax vs M/S. Sreeyem Shares & Securities (P) on 11 February, 2008
Author: C.N. Ramachandran Nair
Bench: C.N.Ramachandran Nair, T.R.Ramachandran Nair
IN THE HIGH COURT OF KERALA AT ERNAKULAM
ITA.No. 88 of 2002()
1. THE COMMISSIONER OF INCOME TAX,
... Petitioner
Vs
1. M/S. SREEYEM SHARES & SECURITIES (P)
... Respondent
For Petitioner :SRI.P.K.R.MENON(SR.),SC FOR IT
For Respondent : No Appearance
The Hon'ble MR. Justice C.N.RAMACHANDRAN NAIR
The Hon'ble MR. Justice T.R.RAMACHANDRAN NAIR
Dated :11/02/2008
O R D E R
C .N. RAMACHANDRAN NAIR &
T.R. RAMACHANDRAN NAIR, JJ.
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I.T.A. No. 88 OF 2002
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Dated this the 11th day of February, 2008
JUDGMENT
C.N. Ramachandran Nair,J.
The question raised in the appeal pertains to adoption of cost of stock held by the assessee. We find that the Tribunal has confirmed the order of the first appellate authority who adopted average cost for the purpose of valuing the stock. We do not find any substantial question of law arising from the order of the Tribunal. We therefore dismiss the appeal.
(C.N.RAMACHANDRAN NAIR) Judge.
(T.R.RAMACHANDRAN NAIR) Judge.
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