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Consistent Stock Valuation Without Book Rejection Cannot Be Altered: ITAT Kolkata
Case Law Details
- Case Name
- ACIT Vs Arissan Infrastructures Private Limited (ITAT Kolkata)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2013-14
- Courts
- All ITAT, ITAT Kolkata
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ACIT Vs Arissan Infrastructures Private Limited (ITAT Kolkata)
The ITAT Kolkata dismissed the Revenue’s appeals for AYs 2013-14, 2015-16 and 2017-18. At the outset, the Tribunal noted that the tax effect in all the appeals was below ₹60,00,000. Referring to CBDT Instruction No. 9 of 2024 dated 17.09.2024, it held that the appeals were not maintainable, as they did not fall within any of the exceptions prescribed in the Instruction. The Tribunal, however, observed that if, upon verification, the tax effect exceeded the prescribed limit or the cases fell within any exception...
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