2013 (5) TMI 889

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....jana Patel O R D E R PER RAJENDRA SINGH, AM: This appeal by the revenue is directed against the order dated 1.7.2010 of CIT(A) for assessment year 2002-03. The only dispute raised by the revenue in this appeal is regarding deletion of addition made by Assessing Officer on account of unavailed cenvat balance in the closing stock. 2. Facts in brief are that the Assessing Officer in the original ....

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.... Court of Delhi in the case of CIT vs. Mahavir Aluminium Ltd. (297 ITR 77). It was also pointed out that the same view had been taken by the Hon'ble High Court of Bombay in the case of CIT vs. Mahalaxmi Glass Pvt. Ltd. (318 ITR 116). CIT(A) after considering the submission of the assessee, observed that Assessing Officer had not given effect to the direction of the Tribunal that the adjustment....

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.... or fee incurred by the assessee to bring the goods to the place of its location and condition as on the date of valuation. Therefore, it is clear that the adjustment on account of tax, duty, cess or fee is required to be made at all stages such as opening stock, purchase, sales and closing stock wherever found necessary. The Hon'ble High Court of Delhi in the case of Mahavir Aluminium Ltd. (....