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2016 (10) TMI 247 - HC - Income TaxExclusion of excise duty at the time of valuing closing stock at the end of accounting - Held that:- Taking into consideration the view taken by this court in the case of Assistant Commissioner of Income-tax v. Narmada Chematur Petrochemicals Ltd. (2010 (8) TMI 263 - Gujarat High Court ) we are of the view that the Tribunal has not committed any error in excluding the excise duty at the time of valuation of the closing stock. In that view of the matter, we answer the issue in favour of the assessee
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