2013 (6) TMI 533

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....pta, AM. This appeal by the Revenue is on the sole issue that on the facts and circumstances of the case the ld. CIT(A) erred in deleting the addition of Rs.16.53 crores as considered for disallowance u/s 43B of the IT Act by the AO. The Revenue has also agitated that the ld. CIT(A) erred in restricting the disallowance u/s 14A to 1% only. 2. At the outset, the ld. Counsel for the aassessee ....

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..... 3. The ld. DR supported the order of the AO for his submissions. 4. We have heard the rival contentions and carefully perused the material available on record. On careful perusal of facts and circumstances of the case leading to disallowance u/s 43B of the Act by hypothetically holding a view that the claim of the assessee becomes double deduction has not been interpreted correctly by the ....

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.... as relied upon and were before the Tribunal as well as the Hon'ble High Court the matter was actually clarified in so far as the valuation of stock is not part of the claim of excise duty remaining unpaid. Therefore, it was misapplication of facts and figures in the mind of the AO to have discovered double deduction for the purpose of disallowance u/s 43B of the Act. 5. The ld. CIT(A) has righ....