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2016 (6) TMI 1363 - AT - Income TaxAddition on CENVAT credit and VAT credit u/s 145A - HELD THAT:- The assessee has demonstrated in the statement prepared by him that there is no impact on the net profit, if taxes are accounted either under exclusive or under inclusive method Tax authorities have not examined the statement furnished by the assessee though learned CIT(A) has made certain computations and granted partial relief to the assessee. We have noticed that he has not found fault with the statement furnished by the assessee. This issue requires fresh examination at the end of the Assessing Officer by duly considering reconciliation statement furnished by the assessee. Accordingly, we set aside the order passed by learned CIT(A) on this issue and restore the same to the file of the Assessing Officer with the direction to examine the reconciliation statement furnished by the assessee and take appropriate decision in accordance with law after affording necessary opportunity of being heard to the assessee. - Decided in favour of assessee for statistical purposes
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