Addition U/s. 50C justified even in case of depreciable Asset if Assessee not challenges the value adopted by stamp valuation authority

IN THE ITAT MUMBAI BENCH ‘D’ Rallis India Ltd. Versus Additional Commissioner of Income-tax IT APPEAL NO. 2464 (MUM.) OF 2010 [ASSESSMENT YEAR 2006-07] SEPTEMBER 14, 2012 ORDER D. Manmohan, Vice-President This appeal is directed against the order, dated 7.1.2010, passed by learned CIT(A)-2, Mumbai and it pertains to A.Y 2006-07. Number of grounds were urged before us which are taken up in seriatim. 2. Vide ground No. 1 the assessee contends that learned CIT(A) erred in confirming an addition to closing stock on account of purchase tax not included therein. The Asse...