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1995 (10) TMI 58 - ITAT AHMEDABAD-C
Extract:
....... constituted trading receipts in its hands and as such liable to be assessed during the year under appeal and further the bank guarantee furnished by the assessee did not tantamount to actual payment of excise duty. We accordingly reverse the findings of the CIT(A) and restore those of the Assessing Officer. 12. In the result, the appeal is allowed