INCOME TAX OFFICER, WARD-3(1), GUWAHATI vs. M/S.ASSAM CARBON PRODUCTS LIMITED, GUWAHATI

In the result, the revenue’s appeal for the AY 2014-15 is dismissed and that of assessee’s appeal for the AY 2012-13 is allowed

195,47,000/- claimed by the assessee due to increase in value of foreign currency such as GBP(Pound Sterling). US Dollar and EURO after re-statement of closing outstanding forex payable as per Accounting Standard-AS 11. Income assessed at Rs. 19,571,140/-. 5. The assessee has challenged the disallowances/additions before the ld. CIT(A) and partly succeeded

M/S. ASSAM CARBON PRODUCTS LIMITED,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3, GUWAHATI

In the result, the revenue’s appeal for the AY 2014-15 is dismissed and that of assessee’s appeal for the AY 2012-13 is allowed