Hon'ble Subhash Chandra Nigam,J.
Heard Sri R.K. Upadhyaya, learned Standing Counsel and Sri Shakeel Ahmad, learned counsel appearing on behalf of respondent.
We have perused the order of the Tribunal. The Tribunal held that in the present case the provisions of Section 145 of the Act are applicable. The Tribunal further held that over head expenses incurred by the assessee in cutting of the blocks from the rocks is required to be included into the valuation of the closing stock. On the objection being raised by the authorised representative that the valuation of opening and closing stock should be done on the same method. The Tribunal directed the assessing authority while valuing the opening stock without disturbing the closing stock of earlier year. The assessing officer will also include the same items as are included while valuing the closing stock. In opening and closing stock will be valued on the same method and the same items as are included the closing stock will be included to value the opening stock and thereafter the Assessing Officer has been directed to work out the addition, if any, thereafter.
In view of the aforesaid finding, we are of the view that the Tribunal has only remanded back the matter to the Assessing Officer to value the opening and closing stock adding the same items both in opening and closing stock on the same method and thereafter to work out the addition. On the facts and circumstances, We do not see any substantial question of law arises for consideration by this Court.
The appeal is accordingly dismissed.
Order Date :- 7.1.2010 OP