DCIT, CIRCLE-6, JAIPUR, NCRB, JAIPUR vs. RAJASTHAN STATE GANGANAGAR SUGAR MILLS LIMITED, NEHRU SEHKAR BHAWAN, JAIPUR

In the result the appeal of the assessee is partly allowed

Bench: Him The Assessment Order Passed By Acit, Circle-6, Jaipur [ For Short Ao ] U/S 143

145A is mandatory. It requires that inventory has to the valued after inclusion of any amount of excise duty paid or incurred by the assessee. The income of the assessee has to be computed taking into consideration this section and the regular accounting policy. Furthermore, it has been held by the Hon'ble Supreme Court in the case of British

RAJASTHAN STATE GANGANAGAR SUGAR MILLS LIMITED,JAIPUR vs. ACIT, JAIPUR