IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE T.R.RAMACHANDRAN NAIR MONDAY, THE 11TH FEBRUARY 2008 / 22ND MAGHA 1929 ITA.No. 88 of 2002() -------------------- ITA.87/1997 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT. --------------------------- THE COMMISSIONER OF INCOME TAX, COCHIN. BY ADV. SRI.P.K.R.MENON(SR.),SC FOR IT SRI.GEORGE K. GEORGE, SC FOR IT RESPONDENTS: ------------- M/S. SREEYEM SHARES & SECURITIES (P) LTD., COCHIN. BY THIS INCOME TAX APPEAL HAVING BEEN FINALLY HEARD ON 11/02/2008 THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C .N. RAMACHANDRAN NAIR & T.R. RAMACHANDRAN NAIR, JJ. -------------------------------------------- I.T.A. No. 88 OF 2002 -------------------------------------------- Dated this the 11th day of February, 2008 JUDGMENT C.N. Ramachandran Nair,J. The question raised in the appeal pertains to adoption of cost of stock held by the assessee. We find that the Tribunal has confirmed the order of the first appellate authority who adopted average cost for the purpose of valuing the stock. We do not find any substantial question of law arising from the order of the Tribunal. We therefore dismiss the appeal. (C.N.RAMACHANDRAN NAIR) Judge. (T.R.RAMACHANDRAN NAIR) Judge. kk 2