2017 (9) TMI 1753

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....sessing Officer has challenged correctness of order of learned CIT(A)-1, Ahmedabad dated 09.01.2015, in the matter of assessment under Section 143(3) r.w.s. 263 of the Income-tax Act, 1961, for the assessment year 2006-07. 2. Grievance raised in the appeal is as follows:- "The CIT(A) has erred in law and on facts in deleting the addition of Rs. 1,15,69,034/- made on account of disallow....

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....ock. We find that the ld.CIT(A) while deciding the issue in favour of assessee has given a finding that assessee is following exclusive method of accounting whereby the excise duty is not included in the valuation of stock and raw-materials as the excise duty paid and collected is not made part and parcel of the Profit & Loss A/c. He has further given a finding that assessee has complied with the ....