https://www.taxtmi.com/caselaws?id=6139 SC held the Tribunal was justified in directing the Income-tax Officer to allow deduction of central excise and customs duties under s.43B where those duties were included in the value of closing stock. The assessee, a company manufacturing and selling paints, varnishes and allied products, was entitled to the deduction because the expenditure related to duties had been incurred and formed part of inventory valuation, making the claim allowable for tax purposes. en-us Tue, 17 Feb 2004 00:00:00 +0530 Wed, 24 Sep 2025 14:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6139 SC held the Tribunal was justified in directing the Income-tax Officer to allow deduction of central excise and customs duties under s.43B where those duties were included in the value of closing stock. The assessee, a company manufacturing and selling paints, varnishes and allied products, was entitled to the deduction because the expenditure related to duties had been incurred and formed part of inventory valuation, making the claim allowable for tax purposes. Case-Laws Income Tax Tue, 17 Feb 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6139