computer
software. The Assessing Officer allowed adjustments under the
application of section 145A . The assessing officer allowed the said
adjustment as discussed in para ... account of adjustment under section
145A of the Act was made to the value of the closing stock in the earlier
years and whereas similar
section 57(iv) r.w.s. 56(2)(viii) r.w.s. 145A(b) of
the Act. These provisions read as follows:-
"Deductions ... compensation or on
enhanced compensation referred to in clause (b) of section 145A;"
Method of accounting in certain cases.
"145A. Notwithstanding anything
section 57(iv)
r.w.s. 56(2)(viii) r.w.s. 145A(b) of the Act. These provisions read as
follows:-
"Deductions ... compensation or on enhanced
compensation referred to in clause (b) of section 145A;"
Method of accounting in certain cases.
"145A. Notwithstanding anything
account of valuation of closing stock ignoring the provisions of
Section-145A of the Income-tax Act, 1961 which clearly lays down
that excise duty ... entirely in accordance with the method of
valuation prescribed under section 145A of the Act and the
assessee has not added taxes and duties
section 57(iv) r.w.s. 56(2)(viii) r.w.s. 145A(b) of the
Act. These provisions read as follows:-
ITA No.1748 ... compensation or on enhanced
compensation referred to in clause (b) of section 145A;"
Method of accounting in certain cases.
"145A. Notwithstanding anything
provisions of section 57(iv) read with sections 56(2)(viii) and 145A(b)
of the Act under the head income from other sources. Being ... read with Sec.56(2)(viii) and 145A(b) of the Act.
The Hon'ble Gujarat High Court held that interest under section
section 57(iv) r.w.s. 56(2)(viii) r.w.s. 145A(b) of the Act. These provisions
read as follows:-
"Deductions ... compensation or on enhanced
compensation referred to in clause (b) of section 145A;"
Method of accounting in certain cases.
"145A. Notwithstanding anything
legal contention that Section 4313 has overriding effect and, therefore, Section 145A of the Act introduced w.e.f. 1st April, 1999 can have ... valuation is done in accordance with law. The Tribunal thereafter noticed Section 145A of the Act under which in computing the profits of the business
made by the AO u/s 145A
of the Act.
11. At the time of hearing, the ld.counsel fo r the
assessee ... made by
the AO u/s 145A of the Act.
I TA N os.4789/5103 /4790
exclusive method for accounting CENVAT as
against inclusive method mandated u/s 145A of the Act.
2. The CIT(A) has erred ... Ground No.1 relates to addition under s.145A of the Act on
account of adjustment of closing stock of the assessee by duty
