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Excise duty element cannot be added to value of unsold sugar lying in stock on last day of accounting year under section 145A
Case Law Details
- Case Name
- CIT Vs Loknete Balasaheb Desai S.S.K. Ltd. (Bombay High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Bombay High Court
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CIT v Loknete Balasaheb Desai S.S.K. Ltd.
High Court of Bombay
ITA No. 4297 of 2009
Decided on: 22 June 2011
Judgment
J.P. Devadhar, J
1. Heard. Admit on the following question of law:-
“Whether on the facts and in the circumstances of the case and in law, the ITAT was justified in holding that under section 145A of the Income Tax Act, 1961 the excise duty element cannot be added to the value of unsold sugar lying in stock on the last day of the accounting year?”
2. By consent, appeal is taken up for final hearing.
3. The assessment year involved is AY 2001-02.
4. The assessee is e...
