https://www.taxtmi.com/caselaws?id=190588 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) to delete the addition of unutilized CENVAT credit in the closing stock valuation for the assessment year 2006-07. The Revenue's appeal challenging the exclusion of CENVAT credit was dismissed, emphasizing the assessee's consistent accounting method and lack of contradictory Revenue decisions. The Tribunal referenced legal precedents and the Supreme Court's ruling on MODVAT credit to support its decision. en-us Fri, 10 Jun 2016 00:00:00 +0530 Sun, 19 Feb 2017 23:17:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190588 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) to delete the addition of unutilized CENVAT credit in the closing stock valuation for the assessment year 2006-07. The Revenue's appeal challenging the exclusion of CENVAT credit was dismissed, emphasizing the assessee's consistent accounting method and lack of contradictory Revenue decisions. The Tribunal referenced legal precedents and the Supreme Court's ruling on MODVAT credit to support its decision. Case-Laws Income Tax Fri, 10 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190588