vires of section 194A (3)(ix) and (ixa) as also
section 145A(b) and 56(2)(viii) of the Income ... compensation or
on enhanced compensation referred to in clause (b) of
section 145A ."
13. Sub-section (2) of section 56 thus provides that
issues during such
scrutiny in the original assessment was processing of section 145A
for valuation.
The
assessee had also preferred appeal before the Commissioner(Appeals ... unutilized CENVAT
credit was required to be considered for adjustment u/s.145A and the
income was arrived at without including the unutilized CENVAT
credit
amendment, the petitioner also prayed for
a declaration that section 145A of the GPMC Act is ultra vires
Articles ... changes made in the GPMC Act , we
may briefly refer to section 145A added in the GPMC Act by the
Amending Act . Sub-section
amendment, the petitioner also prayed for a
declaration that section 145A of the GPMC Act is ultra vires Articles ... changes made in the GPMC Act ,
we may briefly refer to section 145A added in the GPMC Act by the
Amending Act . Sub-section
provisions of
section 145A of the Act mandate inclusive of accounting for the
purpose of the Act in respect of duty, cess and taxes even ... furnishing details of
deviation from the method of valuation prescribed under section
145A of the Act. As per annexure 10(a) clause
expenses incurred outside the in-house facility.
The provisions of Section 145A of the
Act mandate inclusive method of accounting for the purpose ... furnishing details of deviation from the method of
valuation prescribed under section 145A of the Act. As per Annexure
8 to clause
apply to the facts of assessee
respondent herein.
8. Section 145A which came in
force on April 1, 1999, reads as follows:-
145.
Method ... income of the year in
which it is received.
Section 145A
provides for valuation of purchase and sale of goods and
inventory for the purpose
deviation, if any, from the method of valuation
prescribed under section 145A , and the impact thereof on the
profit & loss.
Sr.
No.
Particulars
[Rupees ... provisions of section 145A of the I.T
Act, the difference of Rs. 4,69,54,465/= is to be included in the
closing stock
required to be made by a
statute, (as for example Section 145A of the
Act), effect to the same should be given
irrespective ... consequences on the
computation of income for tax purposes.
Section 145A of the Act begins with as non
obstante clause, and therefore, to give
effect
upholding the decision of CIT(A) of deleting the
disallowance u/s. 145A of Rs.32,17,801/- as the assessee has erred ... year. Therefore, the assessee has made deviation under Section
145A of the Income Tax Act?"
2. We have heard learned counsel for the Revenue
