2018 (3) TMI 669

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....For Respondent : Suyash Agarwal,Arnab Banerji,Official Liquidator,R.R.Agrawal ORDER Heard Sri Gaurav Mahajan learned counsel for the department and Sri Arnab Banerji learned counsel for the assessee. This is an appeal under section 260A of the Income Tax Act, 1961 filed by the department against the order dated 6.1.2006 passed by the tribunal in I.T.A. no.614/Del/2002 for the assessment ye....

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.... to Provident Fund if paid within grace period is not disallowable u/s43B? 4.Whether on the facts and in the circumstances of the case, the tribunal was legally justified in upholding the order of Commissioner of Income Tax (Appeal) who deleted the disallowance of Rs. 4,45,779/-made on account of cane price and excess levy sugar price? 5.Whether on the facts and in the circumstances of the cas....

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....ned, the order of the tribunal is upheld deleting the addition of the amount made on account of under valuation of closing stock in view of the fact that Hon'ble Apex Court in the case of Commissioner of Income Tax vs. Bannari Amman Sugars Ltd. (2012) 349 ITR 708 (SC), has held that the stock of incentive sugar has to be valued on the levy price and not on cost price. In so far as the questio....

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....is question is also therefore decided in favour of the assessee and against the department. In so far as the question no.2 is concerned, the said question is decided in favour of the department and against the assessee in view of the decision dated 27.7.2017 of this court in the case of Commissioner of Income Tax vs. M/s. Kisan Sahkari Chini Mills Ltd. (Income Tax Appeal no.418 of 2006) by which ....