KANHIRAM RAMGOPAL Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THIS is an application by the CIT, Bhopal under s. 256 (2) of the IT Act, 1961, seeking a direction from this Court to the Tribunal, Indore to refer the following questions for decision of this Court :

(2.) ASSESSEE, a partnership firm, filed its return for asst. yr. 1974-75. The assessee deals in cotton business. The details of closing stock were filed by the assessee and it valued the same at the market price as obtaining on the last date of the accounting year. The ITO revalued the closing stock and made an addition.

(3.) THE application is, therefore, dismissed. THEre will be no order as to costs.