https://www.taxtmi.com/caselaws?id=55990 Consistent valuation of closing stock at cost net of excise duty was accepted where excise duty was separately accounted for and excluded from the trading account; a bank statement showing excise duty in stock values did not, by itself, justify an income addition. An ad hoc write-off of dies was not accepted because the basis of the write-off was not properly explained, but dies used in manufacture were treated as plant and the alternative claim for depreciation was remitted for fresh examination. The remaining issues under section 43B, belated claims for relief under sections 80J and 80HHA, and interest under section 217 were rejected, with only consequential recomputation directed. en-us Wed, 06 Dec 1995 00:00:00 +0530 Wed, 01 Dec 2010 10:14:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55990 Consistent valuation of closing stock at cost net of excise duty was accepted where excise duty was separately accounted for and excluded from the trading account; a bank statement showing excise duty in stock values did not, by itself, justify an income addition. An ad hoc write-off of dies was not accepted because the basis of the write-off was not properly explained, but dies used in manufacture were treated as plant and the alternative claim for depreciation was remitted for fresh examination. The remaining issues under section 43B, belated claims for relief under sections 80J and 80HHA, and interest under section 217 were rejected, with only consequential recomputation directed. Case-Laws Income Tax Wed, 06 Dec 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55990