CENVAT Credit Write-Off for Factory Closure Allowed as Business Expense u/s 37(1) of Income Tax Act.

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....Disallowance of Cenvat Credit – closer of factory - Held that:- The assessee was paying higherwrite off of CENVAT credit by the assessee in its books of account is allowable as business expenditure under the provisions of section 37(1) - AT....