2017 (7) TMI 616

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.... Subhash Shetty and Mr. Dharam Gandhi for the respondent ORDER P. C. 1. The present appeal pertains to Assessment Year 2008-09. 2. The present appeal is filed on account of deleting the addition of Rs. 1,14,11,300/on account of unutilized Cenvat credit to closing stock. 3. Mr. Malhotra, the learned Counsel for the appellant submits that the unutilized Cenvat credit pertain to purcha....

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.... same was rightly added to the closing stock. 4. The learned Counsel for the respondent submits that the respondent follows exclusive method of accounting, in which the amount of Cenvat credit is not added to the sales and purchases but are shown separately. Whether exclusive method of accounting is adopted or inclusive method of accounting is adopted, the net result would be the same and there....