https://www.taxtmi.com/caselaws?id=60611 Under the exclusive method of accounting, excise duty on inputs credited to a separate MODVAT account and not charged to the profit and loss account could not be added to closing stock merely to raise taxable profits, and the addition was deleted. Routine disallowance of law charges, unsupported by specific material, was also deleted. Deduction claims under section 32AB and section 80HHC could not be refused solely because audit reports were not filed with the return where they were furnished before assessment; the filing requirement was treated as directory. The disallowance under Rule 6B for gifts and presentation articles was sustained to the extent already restricted by the appellate authority. en-us Mon, 08 Jun 1992 00:00:00 +0530 Fri, 07 Jan 2011 11:57:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60611 Under the exclusive method of accounting, excise duty on inputs credited to a separate MODVAT account and not charged to the profit and loss account could not be added to closing stock merely to raise taxable profits, and the addition was deleted. Routine disallowance of law charges, unsupported by specific material, was also deleted. Deduction claims under section 32AB and section 80HHC could not be refused solely because audit reports were not filed with the return where they were furnished before assessment; the filing requirement was treated as directory. The disallowance under Rule 6B for gifts and presentation articles was sustained to the extent already restricted by the appellate authority. Case-Laws Income Tax Mon, 08 Jun 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60611