https://www.taxtmi.com/caselaws?id=186487 The appeal under section 260A of the Income Tax Act involved the inclusion of Excise Duty in the value of closing stock of raw material for Assessment year 2005-06. The Tribunal upheld the assessee's position that excise duty should be excluded from closing stock valuation since it was already excluded from opening stock, leading to no difference in the overall result. The Court concurred with the Tribunal's decision, dismissing the appeal. en-us Fri, 07 Dec 2012 00:00:00 +0530 Tue, 20 Sep 2016 12:53:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186487 The appeal under section 260A of the Income Tax Act involved the inclusion of Excise Duty in the value of closing stock of raw material for Assessment year 2005-06. The Tribunal upheld the assessee's position that excise duty should be excluded from closing stock valuation since it was already excluded from opening stock, leading to no difference in the overall result. The Court concurred with the Tribunal's decision, dismissing the appeal. Case-Laws Income Tax Fri, 07 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186487