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2013 (1) TMI 968 - ITAT AHMEDABADExcise Duty written off - Deduction u/s 37 - AO noted that some amount was written off by debiting the P&L account pertaining to Excise Duty. According to govt scheme, assessee opted to avail a route of exemption of excise duty. AO was not convinced and said that the impugned deduction is allowable against the future expenses, thus assessee was not entitled to write off the such amount in the year under consideration. - HELD THAT :- It is evident that the assessee has opted for the exemption route without availing excise duty as per the scheme of govt., therefore, unutilized excise duty as availed on the inputs, was written off in the regular books of accounts fully satisfying the conditions as laid down in s 37. Also, assessee has already surrendered its license under the Excise Act and opted for the exemption route and hence, there is no question of setting off the said expenditure in future. Thus, claim is allowed. Decision in the cases of GIRDHAR FIBRES PVT. LTD. VERSUS ASSISTANT COMISSIONER OF INCOME TAX RANGE-1 SURAT [2012 (11) TMI 161 - ITAT, AHMEDABAD] and MOHAN SPG. MILLS VERSUS ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE-I, LUDHIANA [2013 (11) TMI 113 - ITAT CHANDIGARH], relied upon.
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