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Documents citing Commissioner Of Income Tax Del vs Indian Sugar & Gen. Industry Export ... on 30 January, 2012

Shree Durga Marbles, Kishangarh vs Assessee on 16 August, 2016

The second paragraph from the judgment in the Indian Eastern Newspaper Society's case earlier extracted has also reference only to this situation and insists upon the necessity of some information which make the ITO realise that he has committed an error in the earlier assessment. This paragraph does not in any way affect the principle enumerated in the two Madras cases cited with approval in Anandji Haridas [1986] 21 S.T.C. 326. Even making allowances for this limitation placed on the observations in Kalyanji Mavji, the position as summarised by the High Court in the following words represents, in our view, the correct position in law:
Income Tax Appellate Tribunal - Jaipur Cites 13 - Cited by 0 - Full Document

Sri. Chamundeshwari Sugar Ltd.,, vs Department Of Income Tax on 18 March, 2016

Further according to him, similar view was also taken by Hon'ble Delhi High Court in the case of CIT v. Indian Sugar General and Gen. Industry Export Import [349 ITR 38]. As per the Ld. AR this method was consistently followed by the assessee in subsequent years and accepted by the Department. As per the Ld. AR, earlier to A. Y. 1989-90, assessee was following 30th September as its accounting year end, but by virtue of amendments made by Finance Act, 1989, assessee was compelled to follow financial year ending on 31st March as its previous year. Along with this ITA.1538/Bang/2013 Page - 8 change assessee decided to change its method of valuation of stock also from net realisable value to cost or market value, whichever was lower.
Income Tax Appellate Tribunal - Bangalore Cites 4 - Cited by 0 - Full Document
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