2008 (12) TMI 763

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....esh Kumar, Advocate ORDER P.C.: 1. Heard the learned counsel for the parties. 2. The learned counsel for the Appellant has tendered the draft of reframed substantial questions of law. The same is taken on record and marked "X" for identification. Leave granted. Amendment to be carried out within a period of two weeks from today. 3. Perused judgment of the Income-tax Appellate Tribun....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... added to the value of the closing stock an amount of Rs. 10,20,996/- on that count. 10. After considering the rival submissions and perusing other material on record, we find no infirmity in the finding of the CIT (A) in this regard. Undisputedly, unused stock was on account of buttons, elastic, labels, threads, etc. and these items cannot be held that they have become obsolete. It may b....