2013 (12) TMI 162

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....tal. JUDGMENT:- Hemant Gupta, J. - The present appeal arises out of an order dated 21.11.2003 passed by the Income Tax Appellate Tribunal, Chandigarh Bench 'B', Chandigarh pertaining to the assessment year 1994-95. The appeal was admitted on the following question of law:-      "(i) Whether on the facts and in the circumstances of the case, the Tribunal was right in....

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....lier order dated 21.8.2002 in respect of assessment year 1991-92 and order dated 23.11.2002 in respect of assessment year 1989-90 titled ' Hero Cycles Ltd., Ludhiana v. ACIT, Ludhiana'. 3. Still aggrieved, the revenue is in appeal under Section 260-A of the Act. 4. Learned counsel for the appellant has argued that during the course of assessment, the assessee filed written reply on 11.3.1997....

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....d by the Tribunal in the case of other assessee. 5. On the other hand, learned counsel for the assessee referred to order passed by this Court in I.T Appeal No. 162 of 2008 - CIT v. Rockman Cycle Ind. Ltd. wherein the revenue's appeal in respect of similar question was dismissed for the reason that the assessee has been maintaining the similar stand in the various assessment years. 6. We hav....

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....ow any reason for deviating from the past assessment years. However, there is nothing on record in respect of the present assessee, that it has not been showing closing stock of spares and tools in its accounts. In view of the said fact, we do not find that the judgment of this Court in Rockman Cycle Ind. Ltd.'s case (supra), is of any assistance to the argument raised by the assessee. 8. We fi....