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2012 (12) TMI 813 - AT - Income TaxDisallowance of additional depreciation u/s 32(1)(iia) – Non submission of Form 3AA - AO argued that assessee having not fulfilled the mandatory requirements of Sec. 32(1)(iia) by filing a report of the accountant in Form No.3AA before completion of the assessment proceedings - Assessee contended that the report in Form 3AA was filed before the AO on 27-11-2006 before completion of the assessment proceedings – Held that:- In view of the dispute regarding filing of form No.3AA, we think it proper to restore the matter back to the file of the CIT who shall conduct an enquiry and find out as to whether in reality the assessee has filed Form 3AA on 27-11-2006 before the AO and if it is available on record. Issue remand back to AO Unexplained income – As per TDS certificates the total amount received was Rs.59,16,285 – TDS deducted amount Rs.12,12,839 - Assessee credited only an amount of Rs.55,32,097/- to its P &L account - CIT held that the difference of Rs.3,84,188/- escaped assessment – Held that:- As concluded from the facts it is seen from the final accounts which has been submitted before us that in Schedule XII, shown royalty and service charges at Rs.55.32 lakhs and the assessee has paid an amount of Rs.3,83,158 towards service tax. Therefore claim of the assessee needed to be examined again. Remand back to AO Validity of order u/s 263 passed by CIT - Issue already subject matter before CIT(A) - Deduction u/s 80HHC – Computation of export turnover - Whether Ocean freight included/excluded for arriving at Export turnover - AO held that the said freight is not deductible from the total turnover as the said turnover does not relate to the exports – Held that:- CIT has therefore no powers to exercise his jurisdiction with regard to the issue which is already subject matter of appeal before the CIT (A) in view of the provisions contained in section 263 (1)(c). Therefore we hold that the CIT ‘s direction to the AO to recompute the deduction allowable u/s 80HHC is legally unsustainable. In favour of assessee Addition of excise duty payable on finished goods - Assessee has to prepare P&L A/c as per section 145A of the Act by taking the value of excise duty component in finished goods of closing stock - finished goods have not been removed from the manufacturing point which could have attracted levy of excise duty – Held that:- when the stock of finished goods are still lying at the manufacturing point and has not been removed to the godown, there is no question of adding excise duty following the decision in case of D & H Secheron Electrodes (P.) Ltd. (2007 (11) TMI 546 - MADHYA PRADESH HIGH COURT). A similar view was taken by this Tribunal in the assessee's own case for the assessment year 2004-05. In favour of assessee
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