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Sree Alankar v. PCIT (Cuttack)(Trib),www.itatonline.org

S. 263 : Commissioner – Revision of orders prejudicial to revenue – U/s 114(e) of the Evidence Act, there is a presumption that a s. 143(3) assessment order is regularly passed after application of mind. If the assessee is consistently following the same method of valuation of closing stock, the CIT is not entitled to disturb the consistent method [ S.143(3),145A, , Evidence Act , S.114( e) ]

Allowing the appeal of the assessee the Tribunal held that , U/s 114(e) of the Evidence Act, there is a presumption that a S. 143(3) assessment order is regularly passed after application of mind. If the assessee is consistently following the same method of valuation of closing stock, the CIT is not entitled to disturb the consistent method . ( ITA No. 108/CTK/2018, dt. 12.09.2018)(AY. 2012-2013)

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