Delhi High Court: No 43B disallowance for non inclusion of excise duty in finished products lying in factory.

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Delhi High Court in case of The CIT-III, vs Loknete Balasaheb Desai S.S.K. Ltd., vide its decision dt 22/06/2011 held that disallowance u/s 43B of any excise duty on goods manufactured but not cleared from factory is not correct. The issue before High Court was Whether  ITAT was justified in holding that under Section 145A…

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