2009 (3) TMI 65

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....HTA - On 23/3/2000, at the time of admission, following question of law was formulated by this Court: "(B) Whether, on the facts and circumstances of the case based on reappraisal of evidence, the Income Tax Appellate Tribunal was justified in holding that an amount of Rs.2,36,85,075/- allowed as deduction u/s 43B to the amalgamating sister concern would not be liable to be included in the hand....

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....mmissioner (Appeals) had upheld the addition, holding that, as the said deduction was allowed in the hands of Vareli and the closing stock, after such deduction, had been taken over by the assessee company, the opening stock in the hands of the assessee company had to be enhanced by the said figure. Learned counsel, therefore, urged that the Tribunal was in error in deleting the addition in questi....