C. I. T. Kolkata - II v. Hindustan Motors Ltd
[Citation -2014-LL-0918-45]

Citation 2014-LL-0918-45
Appellant Name C. I. T. Kolkata - II
Respondent Name Hindustan Motors Ltd.
Relevant Act Income-tax
Date of Order 18/09/2014
Judgment View Judgment
Keyword Tags excise duty • valuation of stock • customs duty

ORDER SHEET IN HIGH COURT AT CALCUTTA Special Jurisdiction (Income Tax) ORIGINAL SIDE ITA No. 627 of 2004 C. I. T. KOLKATA - II Versus HINDUSTAN MOTORS LTD. BEFORE: Hon'ble JUSTICE SOUMITRA PAL Hon'ble JUSTICE DEBANGSU BASAK Date : 18th September, 2014. Mr. P.K. Bhowmick,Adv. Mr.Siddhartha Das, Adv. Court : appeal was admitted on 22nd June, 2005 on following question: Whether on facts and circumstances of case, Income Tax Appellate Tribunal was justified in law by not holding that excise duty and customs duty formed part of valuation of closing stock? Heard Mr. Bhowmick, learned advocate for appellant and Mr. Das, learned advocate for respondent. We find that issue is covered by order dated 27th June, 2014 passed in ITA No. 114 of 2005 : CIT, Central-I vs. Hindusthan National Glass & Industries Ltd., in favour of assessee, which is not disputed by learned advocate for appellant. Hence, in view of order passed in ITA No. 114 of 2005, question is answered in affirmative and against revenue and in favour of assessee. appeal is thus dismissed. (SOUMITRA PAL, J.) (DEBANGSU BASAK, J.) km aR(CR) C. I. T. Kolkata - II v. Hindustan Motors Ltd
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