TMI Blog2014 (6) TMI 743X X X X Extracts X X X X X X X X Extracts X X X X ..... osition of the profit of Assessee - the unutilized credit of CENVAT account was adjusted against the excise duty payable in respect of sales made – thus, the question of applicability of Section 43B becomes irrelevant - Revenue could not controvert the findings of CIT(A) by bringing any contrary material on record – thus, there was no reason to interfere with the order of CIT(A) – Decided against Revenue. - I.T.A. No. 2134/AHD/2011 - - - Dated:- 6-6-2014 - Shri D. K. Tyagi, J.M. And Shri Anil Chaturvedi, A.M.,JJ. For the Appellant : Shri P.L. Kureel, Sr. D.R. For the Respondent : None ORDER Per Shri Anil Chaturvedi,A.M. 1. This appeal is filed by the Revenue against the order of CIT(A)-VIII, Ahmedabad dated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed that Assessee was having unutilized balance of CENVAT of Rs. 13,61,234/-. A.O was of the view that since the Assessee was following exclusive method of accounting in respect of excise duty, unutilized balance of CENVAT was required to be credited to the Profit and Loss account. A.O was further of the view that when the Assessee was following exclusive method it was the responsibility of Assessee to produce the reconciliation of account relating to valuation of closing stock. A.O has noted that reconciliation statement was not submitted by the Assessee. He further noted that whether the payment of excise duty was made by the Assessee was not available and he therefore added the unutilized CENVAT balance to the total income of the Assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to ascertain or verify as to whether the CENVAT credit has been paid for the purpose of Section 43B as mentioned by the learned A.O in the assessment order. Thus, this ground of appeal is decided in the favour of the Appellant, and the proposed addition of Rs. 13,61,234/- made by the A.O is deleted. 6. Aggrieved by the order of CIT(A), Revenue is now in appeal before us. Before us ld. D.R. relied on the order of A.O. 7. We have heard the ld. D.R. and perused the material on record. We find that CIT(A) while deleting the addition has given a finding that Assessee was following exclusive method of excise duty and had already submitted the reconciliation statement along with the return of income. He has further given a finding that Asse ..... X X X X Extracts X X X X X X X X Extracts X X X X
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