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2011 (6) TMI 48 - HC - Income TaxMethod of accounting in certain cases - Whether u/s 145A the excise duty element cannot be added to the value of unsold sugar lying in stock on the last day of the accounting year - In the present case, it is not in dispute that the manufactured sugar was lying in stock and the same were not cleared from the factory - in respect of unsold sugar lying in stock, central excise liability was not incurred and consequently the addition of excise duty made by the assessing officer to the value of the excisable goods was liable to be deleted - Decided in the favour of assessee
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