CIT Vs. SWARAJ COLD STORAGE (P.) LTD.

JUDGEMENT

(1.) THE present appeal has been filed under section 260 -A of the Income Tax Act, 1961, hereinafter referred to as "the Act", against the order dt. 21 -11 -2008 passed by the Income Tax Appellate Tribunal. The Department has proposed the following substantial question of Law said to be arising out of the Tribunals order:

(2.) BRIEFLY stated the facts giving rise to the present appeal are as follows: - -

(3.) WE have heard Sri Shambhu Chopra, learned Senior Standing Counsel. We find that the Apex Court in the case of Sargam Cinema v. CIT : (2010) 328 ITR 573 : (2011) 197 Taxman 203 has held that unless the books of account of Assessee are rejected, the assessing officer cannot refer the matter to Departmental valuation officer.