2014 (6) TMI 743

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....,A.M. 1. This appeal is filed by the Revenue against the order of CIT(A)-VIII, Ahmedabad dated 02.06.2011 for A.Y. 2005-06. 2. None appeared on behalf of the Assessee, however an adjournment application was submitted but the same was rejected and the case was decided on merits ex-parte qua the Assessee. 3. The facts as culled out from the material on record are as under. 4. Assessee is a compa....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....dated 02.06.2011 granted relief to the Assessee. Aggrieved by the order of CIT(A), Revenue is now in appeal before us and has raised the following effective ground:- 1. The Ld. CIT(A) has erred in law and on facts in deleted the addition on account of unutilized CENVAT credit of Rs. 13,61,234/- without appreciating the provisions of section 145A of the Income Tax Act. 5. A.O noticed that Assesse....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....re CIT(A). CIT(A) after considering the submissions of the Assessee deleted the addition made by A.O. by holding as under:- 4.3 I have carefully considered the findings of the A.O as well as the submission of the appellant. The assessee is following the exclusive method of Excise duty and the assessee had already submitted the reconciliation statement along with the Income Tax Return. The learned....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....T account is adjusted against the excise duty payable in respect of the sales made by the appellant on a normal basis and hence the question of applicability of Section 43B in this case becomes irrelevant. Therefore, there is no need to ascertain or verify as to whether the CENVAT credit has been paid for the purpose of Section 43B as mentioned by the learned A.O in the assessment order. Thus, thi....