https://www.taxtmi.com/caselaws?id=69558 The Tribunal upheld the rejection of the claim for revenue deduction under Sec. 43B, stating that customs and excise duties should not be excluded from closing stock valuation. However, the Tribunal allowed the claim for investment allowance on the incremental cost due to foreign exchange rate fluctuations, directing the Assessing Officer to verify and allow the claim subject to the creation of an adequate reserve. The issue regarding the capitalization of repairs was dismissed as the assessee did not press the grounds during the hearing. en-us Fri, 28 Jun 1991 00:00:00 +0530 Thu, 07 Apr 2011 16:04:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69558 The Tribunal upheld the rejection of the claim for revenue deduction under Sec. 43B, stating that customs and excise duties should not be excluded from closing stock valuation. However, the Tribunal allowed the claim for investment allowance on the incremental cost due to foreign exchange rate fluctuations, directing the Assessing Officer to verify and allow the claim subject to the creation of an adequate reserve. The issue regarding the capitalization of repairs was dismissed as the assessee did not press the grounds during the hearing. Case-Laws Income Tax Fri, 28 Jun 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69558