https://www.taxtmi.com/caselaws?id=234290 The appeal was allowed as the Tribunal deleted the addition of excise duty in the closing stock, following the High Court decision that excise duty should be excluded from the valuation of closing stock. The Tribunal found that adding excise duty would distort profits over time and that no deduction for the liability had been claimed. The decision was pronounced on 17th June 2011. en-us Fri, 17 Jun 2011 00:00:00 +0530 Wed, 30 Mar 2016 12:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234290 The appeal was allowed as the Tribunal deleted the addition of excise duty in the closing stock, following the High Court decision that excise duty should be excluded from the valuation of closing stock. The Tribunal found that adding excise duty would distort profits over time and that no deduction for the liability had been claimed. The decision was pronounced on 17th June 2011. Case-Laws Income Tax Fri, 17 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234290