https://www.taxtmi.com/caselaws?id=265246 The appeal involved the validity of reopening assessment and the inclusion of excise duty in closing stock valuation. The ld. CIT(A) upheld the reopening but deleted the addition, stating section 145A was inapplicable as it was introduced post the relevant period. The Tribunal agreed, noting excise duty is on manufactured goods, not part of purchased goods or manufacturing costs. The order deleting the addition of Rs. 17,14,390 related to excise duty from closing stock valuation was upheld, dismissing the Revenue's appeal. en-us Thu, 21 Aug 2014 00:00:00 +0530 Fri, 09 Oct 2015 07:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265246 The appeal involved the validity of reopening assessment and the inclusion of excise duty in closing stock valuation. The ld. CIT(A) upheld the reopening but deleted the addition, stating section 145A was inapplicable as it was introduced post the relevant period. The Tribunal agreed, noting excise duty is on manufactured goods, not part of purchased goods or manufacturing costs. The order deleting the addition of Rs. 17,14,390 related to excise duty from closing stock valuation was upheld, dismissing the Revenue's appeal. Case-Laws Income Tax Thu, 21 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265246