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 THURSDAY, THE 7TH FEBRUARY 2008 / 18TH MAGHA 1929 ITA.No. 250 of 2002() --------------------- (AGAINST ORDER DATED 30/07/2001 IN ITA.338/1996 of I.T.A.TRIBUNAL,COCHIN BENCH) .................... : APPELLANT/APPELLANT/ASSESSEE: ---------------------------------------------- M/S. KANCOR FLAVOURS & EXTRACTS LTD., ANGAMALLY SOUTH-683 573. BY ADV. SRI.JOSEPH MARKOSE SRI.THOMAS VELLAPPALLY RESPONDENTS: RESPONDENT: ------------------------ DEPUTY COMMISSIONER OF INCOME TAX, SPECIAL RANGE II, ERNAKULAM. BY ADV. SRI.P.K.R.MENON(SR.),SR.COUNSEL FOR IT SRI.GEORGE K. GEORGE, SC FOR IT THIS INCOME TAX APPEAL HAVING BEEN FINALLY HEARD ON 07/02/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR & T.R.RAMACHANDRAN NAIR, JJ. ------------------------- I.T.A. No. 250 of 2002 --------------------------------- Dated, this the 7th day of February, 2008 J U D G M E N T C.N.Ramachandran Nair, J. We do not find any substantial question of law arising out of the Tribunal's order because dispute is only on closing stock valuation. The assessee gave one valuation of closing stock to the Bank and showed another in the Balance Sheet. Even though, the assessee tried to explain the different method of valuation adopted in both cases, the Officer rejected it and all the authorities including the Tribunal confirmed the same. As we dismissed a similar case, I.T.A.No.174/2002, on 31/01/2008, this case also is dismissed because we do not find any substantial question of law arising out of the Tribunal's order. (C.N.RAMACHANDRAN NAIR, JUDGE) (T.R.RAMACHANDRAN NAIR, JUDGE) jg