https://www.taxtmi.com/caselaws?id=222151 The appeal filed by the Revenue was allowed partly for statistical purposes. The Tribunal dismissed the first ground concerning the addition of excise duty on closing stock under section 145A, upholding the decision of the CIT(A) based on the interpretation that excise duty liability crystallizes upon goods clearance, not manufacture. On the second issue of allowing interest on capital borrowed for interest-free loans to subsidiary companies, the Tribunal set aside the CIT(A)'s order and directed the AO to re-decide the matter in accordance with a High Court directive, allowing this ground for statistical purposes. en-us Fri, 15 Feb 2013 00:00:00 +0530 Tue, 16 Apr 2013 17:45:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=222151 The appeal filed by the Revenue was allowed partly for statistical purposes. The Tribunal dismissed the first ground concerning the addition of excise duty on closing stock under section 145A, upholding the decision of the CIT(A) based on the interpretation that excise duty liability crystallizes upon goods clearance, not manufacture. On the second issue of allowing interest on capital borrowed for interest-free loans to subsidiary companies, the Tribunal set aside the CIT(A)'s order and directed the AO to re-decide the matter in accordance with a High Court directive, allowing this ground for statistical purposes. Case-Laws Income Tax Fri, 15 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=222151