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of <h1>Customs duty on inventory for export not disallowable when not exported within year; sales tax exemptions not capital</h1> HC held for the assessee and against the revenue, concluding that customs duty on inventory (components imported for export but not exported within the ... Custom Duty on Inventory in closing stock - Custom Duty paid on import of components for export purposes for which export had not been made by year - Did the Tribunal fall into error in ruling that sales tax exemptions received from Government of Haryana was capital in nature - HELD THAT:- In view of the orders passed today by this Court [2006 (4) TMI 545 - DELHI HIGH COURT] and [2017 (12) TMI 634 - DELHI HIGH COURT], the questions are answered in the negative, i.e. in favour of the Assessee and against the Revenue. This is an appeal by the Revenue against the ITAT order for AY 2006-07 raising three questions of law: (i) whether the ITAT erred in cancelling additions of custom duty paid on import of components intended for export but for which export had not occurred by year end (Rs. 8,65,07,635 & Rs. 1,47,142); (ii) whether the ITAT erred in cancelling additions of custom duty on inventory in closing stock (Rs. 22,52,46,693); and (iii) whether the Tribunal erred in treating sales tax exemptions from the Government of Haryana (Rs. 32,25,70,213) as capital in nature, allegedly overlooking Sahney Steel & Press Works Ltd v. CIT (1997) 228 ITR 253. In view of contemporaneous orders in ITA Nos. 250 of 2005 and 171 of 2012, the questions were answered 'in the negative, i.e. in favour of the Assessee and against the Revenue.' The appeal is dismissed.
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