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2014 (3) TMI 964 - AT - Income TaxDisallowance u/s 145A - addition to closing stock the excise duty payable on closing inventory of finished stock - Held that:- liability of excise duty in cases such as this case gets crystallized only on the date of clearance of goods and not on the date of manufactur. Since in the present case the goods have not been cleared and the excise duty is not exigible on the same, hence, the excise duty should not be included in the valuation of the closing stock - excise duty payable in this case is to be included in the closing inventory - Decided in favour of assessee.
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