Search Results Page

Search Results

1 - 3 of 3 (0.27 seconds)
Documents citing Commissioner Of Income-Tax vs Bindal Jewellers on 2 December, 1997

Indore Development Authority, Indore vs Assessee on 23 May, 2012

VALUATION OF STOCK SHOULD BE MADE IN A REASONABLE AND JUDICIOUS MANNER IX. The Hon'ble High Court of Rajasthan in case of CIT vs. Bindal Jewellers (1998) 100 Taxman 650 (Raj) has held that the value of stock cannot be mathematically calculated. The money value attributed to the stock should be decided and estimated by the concerning authority in a reasonable and judicious manner.
Income Tax Appellate Tribunal - Indore Cites 34 - Cited by 0 - Full Document

Commissioner Of Income-Tax vs J.P. Patel (Bombay) (P.) Ltd. on 21 April, 2003

4. Mr. A.P. Shrivastava, learned counsel appearing for the assessee, sounding a contra note, has contended that in the earlier years assessment had been done by this method and the Revenue has accepted the same. While so submitting, learned counsel has fairly stated though each year is an independent unit by the order passed by the authority for the subsequent year, yet if the accountancy was done by a recognised method and the same was accepted there is no reason or justification to deviate from the same. It is urged by him that the method adopted in the assessment is known as "last in and first out" and, therefore, the mean has to be accepted. To bolster his submission he has placed reliance on a Division Bench decision rendered in the case of CIT v. Bindal Jewellers [2002] 257 ITR 777 (Raj).
Madhya Pradesh High Court Cites 4 - Cited by 6 - D Misra - Full Document
1