2019 (3) TMI 2107

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....nt : Mr. T.K. Satapathy. ASC CT. ORDER 1. Heard learned counsel for the parties. 2. By way of this revision, the petitioner has challenged the order dated 24.04.2004 (Annexure-5) passed by the Orissa Sales Tax Tribunal, Cuttack, whereby learned Tribunal has dismissed the second appeal filed by it. 3. This Court while admitting the matter framed the following substantial questions of la....

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....2017) 88 taxmann.com 506 (Gujarat) and in the case of Commissioner of Income-tax-I -v- Vrundavan Roller Floor Mill, reported in [2016] 72 taxmann. Com 250 (Gujarat) wherein it has been observed at paragraphs-7 and 7.1 as under: "7. Having heard learned advocates appearing on behalf of the parties and the question posed for consideration before us reproduced hereinabove and considering the....

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....e purpose of availing of larger credit facilities, no addition can be made if there appears to be a difference between the stock shown in the books of account and the statement furnished to the banking authorities. If, for the purpose of fulfilling the margin requirements of the bank purely on inflated estimate basis, when the stock statement had reflected inflated value of the stock, in wake of o....