IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE V.K.MOHANAN TUESDAY, THE 19TH JANUARY 2010 / 29TH POUSHA 1931 ITA.No. 1041 of 2009() ---------------------- ITA.157/COCH/2005 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT/APPELLANT: ----------------------------- THE COMMISSIONER OF INCOME TAX, COCHIN. BY ADV. SRI.P.K.R.MENON,SR.COUNSEL, GOI(TAXES) SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT/RESPONDENT: --------------- PREMEIR STEELS,JEWS STREET, ERNAKULAM. ADV. SRI.T.M.SREEDHARAN FOR R1 SMT.C.K.SHERIN FOR R1 SRI.V.P.NARAYANAN FOR R1 THIS INCOME TAX APPEAL HAVING BEEN FINALLY HEARD ON 19/01/2010, ALONG WITH ITA NO.1267 OF 2009,THE COURT ON 19/01/2010 DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR & V.K.MOHANAN, JJ. .................................................................... I.T. Appeal Nos.1041 & 1267 of 2009 .................................................................... Dated this the 19th day of January, 2010. JUDGMENT Ramachandran Nair, J. Heard Senior Standing Counsel appearing for the appellant and Sri.T.M.Sreedharan, Advocate appearing for the respondent-assessee. We notice from the Tribunal's order for the year 1994-95 against which these appeals are filed, that they have decided the case based on the appellate order in the case of the assessee for the immediately preceding year 1993-94 wherein the closing stock was enhanced by around Rs.37,46,880/-. It is the finding of the Tribunal that all the items of addition will be absorbed in the revised closing stock fixed for 1993-94 which naturally forms opening stock for the previous year relevant for the assessment year 1994-95. In view of this finding of ITA Nos.1041&1267/2009 2 the Tribunal based on earlier year's order which is confirmed by this court, we dismiss the Revenue's appeals. C.N.RAMACHANDRAN NAIR Judge V.K.MOHANAN Judge pms