https://www.taxtmi.com/caselaws?id=152081 The ITAT Delhi allowed the assessee's claim for deduction of the entire excise duty actually paid under section 43B, holding that excise duty is a post-manufacture levy and the assessee's accounting treatment-debited partly to P&L and partly shown as loans and advances-did not restrict deductibility of the full amount paid. The Tribunal upheld the bona fide change in the method of accounting by excluding excise duty on unsold goods from closing stock, with a caveat that the corresponding amount would be taxable in the succeeding year. It also sustained the CIT(A)'s allocation of shelf-hire expenses, treating only 50% as advertisement subject to section 37(3A) disallowance. The assessee's appeal was partly allowed; the Revenue's appeal was dismissed. en-us Wed, 02 Feb 1994 00:00:00 +0530 Mon, 15 Dec 2025 13:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=152081 The ITAT Delhi allowed the assessee's claim for deduction of the entire excise duty actually paid under section 43B, holding that excise duty is a post-manufacture levy and the assessee's accounting treatment-debited partly to P&L and partly shown as loans and advances-did not restrict deductibility of the full amount paid. The Tribunal upheld the bona fide change in the method of accounting by excluding excise duty on unsold goods from closing stock, with a caveat that the corresponding amount would be taxable in the succeeding year. It also sustained the CIT(A)'s allocation of shelf-hire expenses, treating only 50% as advertisement subject to section 37(3A) disallowance. The assessee's appeal was partly allowed; the Revenue's appeal was dismissed. Case-Laws Income Tax Wed, 02 Feb 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=152081