BEFORE:
The Hon'ble JUSTICE PINAKI CHANDRA GHOSE
The Hon'ble JUSTICE SANKAR PRASAD MITRA
Date : 22nd December, 2008.
The Court : After hearing the learned Advocates for the parties and
perusing the application for condonation of delay, we are satisfied with the
grounds stated in the petition. Accordingly, the delay is condoned. The
application under section 5 of the Limitation Act is allowed. G.A.No. 3796 of
2008 is thus disposed of.
We now take up the application for admission of the appeal. After hearing
the learned Advocate appearing in support of the appeal, the appeal is admitted
and the following substantial question of law is referred for adjudication :
" Whether on the facts and in the circumstances of the case, the
Income Tax Appellate Tribunal erred in law in upholding the order of the
Commissioner of Income Tax (Appeals) in deleting the addition of
Rs.8,58,749/- made by the Assessing Officer without appreciating the fact
that the Assessing Officer had made addition on account of short fall in
valuation of closing stock in absence of any explanation from the assessee
in this regard?"
Mr. Chatterjee, learned Advocate appearing in support of the appeal
submits that he is not pressing question (a) mentioned in paragraph-2 of
the petition since this point has already been covered by the Apex Court.
Let paper book be prepared by the appellant and be served upon the
respondent within four weeks after vacation.
Let the appeal appear six weeks after vacation.
All parties concerned are to act on a xerox signed copy of the minutes of
this order on the usual undertakings.
Urgent xerox certified copy of this order, if applied for, be supplied
to the parties subject to compliance with all requisite formalities.
(PINAKI CHANDRA GHOSE, J.)
(SANKAR PRASAD MITRA, J.)
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