Cit vs Mahavir Alluminium Ltd. on 28 November, 2007
6. We have heard the rival contentions of both the parties and perused
the material available on record. Principally the ld CIT(A) had accepted the
assessee's adjustment of excise duty on opening stock U/s 145A but full
amount has not been allowed by him on the ground that since the excise
duty is not included in the closing stock of last year. It is not possible to
verify and allow the higher claim of adjustment. The AR of the assessee
furnished all the details before the lower authorities at the time of
appellate proceedings and at the time of first appeal made before the ITAT
thereafter in set aside proceeding, these details were given to the
Assessing Officer. The Hon'ble Delhi High Court in the case of CIT Vs.
Mahavir Alluminum (supra) has held as under:-