TMI Blog2007 (11) TMI 546X X X X Extracts X X X X X X X X Extracts X X X X ..... ppeal under section 260A of the Income-tax Act, 1961 has been filed against the order 25-5-2007 passed by the Income-tax Appellate Tribunal in I.T.A.No. 591/Indore/06. The only question raised for consideration within the parameters of section 260A of the Act reads as follows: "Whether the ITAT is justified in confirming the order of the CIT(A) thereby deleting the addition made on account of u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rinciples which govern the market value of the stock require inclusion of all over head charges and, therefore, according to the learned counsel, excise duty irrespective of the fact that it was not paid as the manufactured goods had not left the premises of the assessee, was liable to be taken into account in computation of the stock value. We have carefully gone through the above decision and we ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ularly employed by the assessee; and (b )further adjusted to include the amount of any tax, duty, cess or fee (by whatever name called) actually paid or incurred by the assessee to bring the goods to the place of its location and condition as on the date of valuation." 5. A bare look at the provision manifests that it is only when the tax, duty, cess or fee is actually paid or incurred by the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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