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Court Rules CA Guidance Non-Mandatory; Assessee's Stock Valuation Stands, No CENVAT Credit Additions Required.

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....Valuation of closing stock - notwithstanding the fact that the opinion of the Chartered Accountants of India was expressed in the 'guidance note", which had not attend a mandatory status, would not be a ground to discard the books of accounts of the Assessee or the method of accounting followed - No addition on account of unutilized CENVAT Credit was called for - AT....