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    Valuation of closing stock - unutilized credit of CENVAT account...

    Unused CENVAT credit offsets excise duty payable, making Section 43B irrelevant for closing stock valuation.

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    Income TaxJune 26, 2014Case LawsAT

    Valuation of closing stock - unutilized credit of CENVAT account was adjusted against the excise duty payable in respect of sales made – the question of applicability of Section 43B becomes irrelevant - AT

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