TMI Blog2018 (1) TMI 1380X X X X Extracts X X X X X X X X Extracts X X X X ..... ds that do not contribute to bringing the inventories to their present location and condition and selling and distribution costs are to be excluded from the cost of inventories. As per the assessee, the amount in dispute of ₹ 15.65 Lacs & ₹ 14.80 lacs are hit by the clause (d) of Para 13 of AS – 2 and the remaining amount of ₹ 11,84,600/- is hit by the clause (c) of Para 13 of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r A. Y. 2012 13. 2. The assessee has raised three grounds as per revised grounds of appeal. The nature of expenses are three i.e. Advertisement Expenditure ₹ 15.65 lacs, 2) Legal Professional fees ₹ 14.80 Lacs and 3) Site Administrative Expenditure ₹ 11,84,600/- but the finding of the learned CIT (A) is common that all these expenses are to be capitalized to Inventory as p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er the learned AR of the assessee, the amount in dispute of ₹ 15.65 Lacs ₹ 14.80 lacs are hit by the clause (d) of Para 13 of AS 2 and the remaining amount of ₹ 11,84,600/- is hit by the clause (c) of Para 13 of AS 2. These contentions were raised before CIT (A) also and were noted by CIT (A) on page 5 of his order but while deciding the issue as per Para 9.3 of his order, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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