Value of goods duly accepted by excise department cannot be re-valued by AO

Kamivisa Products Vs DCIT (ITAT Chennai) ITAT Chennai held that as the value of goods are duly accepted by the Central Excise department without there being any modification, then AO doesn’t have any jurisdiction to go beyond the same. Facts- The assessee manufactures ordinary and special wicks for M/s.Godrej Saralee Ltd. The Puducherry unit had claimed deduction u/s.80IB of the Income Tax Act, 1961 and Guwahati unit had claimed deduction u/s.80IC of the Income Tax Act, 1961, During the course of assessment proceedings, it was noticed that Guwahati unit purchased wicks at lower cost price fr...