https://www.taxtmi.com/caselaws?id=238828 The ITAT allowed the appeal for AY 2007-08, holding that the appellant's exclusive method of accounting for Modvat Credit neutralized the tax effect of not including excise duty in the closing stock valuation. For AY 2008-09, despite a procedural error by the FAA, the ITAT ruled in favor of the appellant based on the analysis for AY 2007-08, emphasizing consistency in accounting methods and tax effect neutralization. Appeals for AYs 2006-07 and 2008-09 were allowed following the principles applied in the AY 2007-08 case. en-us Fri, 13 Sep 2013 00:00:00 +0530 Tue, 29 Oct 2013 09:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238828 The ITAT allowed the appeal for AY 2007-08, holding that the appellant's exclusive method of accounting for Modvat Credit neutralized the tax effect of not including excise duty in the closing stock valuation. For AY 2008-09, despite a procedural error by the FAA, the ITAT ruled in favor of the appellant based on the analysis for AY 2007-08, emphasizing consistency in accounting methods and tax effect neutralization. Appeals for AYs 2006-07 and 2008-09 were allowed following the principles applied in the AY 2007-08 case. Case-Laws Income Tax Fri, 13 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238828