https://www.taxtmi.com/caselaws?id=35481 The HC affirmed that under section 145A an adjustment of unutilized Modvat credit to opening stock is required when closing stock changes, following the reasoning of the Delhi HC and Privy Council precedent. The court held such an adjustment does not amount to a double benefit to the assessee but is necessary to compute true and correct profit for assessment. The appeal was summarily dismissed. en-us Wed, 01 Apr 2009 00:00:00 +0530 Thu, 04 Sep 2025 16:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35481 The HC affirmed that under section 145A an adjustment of unutilized Modvat credit to opening stock is required when closing stock changes, following the reasoning of the Delhi HC and Privy Council precedent. The court held such an adjustment does not amount to a double benefit to the assessee but is necessary to compute true and correct profit for assessment. The appeal was summarily dismissed. Case-Laws Income Tax Wed, 01 Apr 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35481