https://www.taxtmi.com/caselaws?id=200802 The Appellate Tribunal, ITAT HYDERABAD, upheld the decision of the CIT(A) regarding the assessment of excise duty on stock of finished goods under section 145A of the Income Tax Act, 1961. The Tribunal ruled that since the liability for excise duty did not crystallize as the goods were not cleared from the factory, the provisions of section 145A were not applicable. Consequently, the Tribunal dismissed the revenue's appeal, affirming the deletion of the addition made towards the valuation of closing stock. en-us Fri, 03 May 2013 00:00:00 +0530 Tue, 24 Apr 2018 13:10:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200802 The Appellate Tribunal, ITAT HYDERABAD, upheld the decision of the CIT(A) regarding the assessment of excise duty on stock of finished goods under section 145A of the Income Tax Act, 1961. The Tribunal ruled that since the liability for excise duty did not crystallize as the goods were not cleared from the factory, the provisions of section 145A were not applicable. Consequently, the Tribunal dismissed the revenue's appeal, affirming the deletion of the addition made towards the valuation of closing stock. Case-Laws Income Tax Fri, 03 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200802