https://www.taxtmi.com/caselaws?id=449131 The HC ruled in favor of the appellant, allowing the deduction of Rs. 60,99,426/- under Section 43B of the Income Tax Act, 1961. The ITAT had previously disallowed this deduction, citing potential double deduction. However, the HC found the Tribunal's conclusion incorrect, as the excise duty for unsold stocks was separately claimed and allowed. The HC applied these findings to both Income Tax Appeal No. 148 of 2003 and Income Tax Appeal No. 103 of 2003, answering the substantial question of law in the affirmative for the appellant and disposing of both appeals. en-us Fri, 02 Feb 2024 00:00:00 +0530 Tue, 06 Feb 2024 21:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449131 The HC ruled in favor of the appellant, allowing the deduction of Rs. 60,99,426/- under Section 43B of the Income Tax Act, 1961. The ITAT had previously disallowed this deduction, citing potential double deduction. However, the HC found the Tribunal's conclusion incorrect, as the excise duty for unsold stocks was separately claimed and allowed. The HC applied these findings to both Income Tax Appeal No. 148 of 2003 and Income Tax Appeal No. 103 of 2003, answering the substantial question of law in the affirmative for the appellant and disposing of both appeals. Case-Laws Income Tax Fri, 02 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449131