Bombay High Court Dismisses Revenue's Appeal in Excise Duty Valuation Case Under Section 145A of Income Tax Act, 1961. Excise duty on unsold stock not includible in inventory valuation as liability is not 'incurred' until goods are sold....
The case involved an appeal by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal (ITAT) regarding the valuation of unsold sugar stock for the assessment year 2001-0...




