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2017 (12) TMI 1562 - AT - Income TaxValuation of stock - Disallowance made under section 145A - Held that:- assessee has been consistently accounting for the raw material and other inputs purchased as per exclusive method i.e. billed cost minus amount of input tax credits - as per section 145A the purchases would have to be adjusted for the duty/tax credits and correspondingly unconsumed stock of materials would also be valued at billed cost - parity is to be maintained - thus even if inclusive method of accounting is followed there would not have been any impact on the profit - appeal filed by revenue is dismissed - Decided in favor of assessee.
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