Court :
HC
Brief :
Held by the Hon`ble Court that, whole amount of custom and excise duty paid by the assessee in a particular year is allowable under section 43 B of the income tax Act, 1961 as a deduction in respect of that year, irrespective of the amount included in closing stock as custom/ excise duty.
Citation :
C.I.T. Vs. Ashok Layland Ltd.
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