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2016 (7) TMI 962 - HC - Income TaxAddition in the value of closing stock towards excise duty - Held that:- This issue raised in this appeal is identical to one which has been decided by this Court in case of Assistant Commissioner of Incometax V. Narmada Chematur Petrochemicals Ltd. [2010 (8) TMI 263 - Gujarat High Court ] wherein held that the Tribunal was justified in law in excluding the excise duty at the time of valuation of the closing stock of finished goods at the end of the accounting period in light of what is stated hereinbefore - Decided in favour of assessee
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