C.I.T., WB-I, Cacutta v. Telerama India Ltd
[Citation -2015-LL-0219-32]

Citation 2015-LL-0219-32
Appellant Name C.I.T., WB-I, Cacutta
Respondent Name Telerama India Ltd.
Relevant Act Income-tax
Date of Order 19/02/2015
Judgment View Judgment
Keyword Tags closing stock • modvat credit

ORDER SHEET IN HIGH COURT AT CALCUTTA Special Jurisdiction [Income Tax] ORIGINAL SIDE ITA 44 of 2000 C.I.T.WB-I CAL. Versus TELERAMA INDIA LTD. BEFORE: Hon'ble JUSTICE GIRISH CHANDRA GUPTA Hon'ble JUSTICE ARINDAM SINHA Date : 19th February, 2015. Mr. P. K. Bhowmick, Adv. .. for appellant Court : Mr. Bhowmick, learned advocate, submitted that taking into account Modvat credit, closing stock was increased by sum of Rs.8.16 lakhs, which was eventually deleted by learned Tribunal. It is against this order that revenue has come up in appeal. He submitted that matter has now been set at rest by Supreme Court against revenue in case of C.I.T. vs Indo Nippon Chemicals Co. Ltd., reported [2003] 261 ITR 275. In that view of matter, nothing survives of appeal, which is accordingly disposed of. (GIRISH CHANDRA GUPTA, J.) (ARINDAM SINHA, J.) sm C.I.T., WB-I, Cacutta v. Telerama India Ltd
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