2012 (11) TMI 190

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..... ds at end of accounting period. Excise duty payable estimated on finished goods held in factory are neither included in expenditure nor valued in such stocks but are accounted for on clearance of goods from factory this accounting treatment however has no impact on the profit for the year as decided in CIT v. Shri Ram Honda Power Equipment Ltd. [2012 (10) TMI 150 - SUPREME COURT] - in favour of .....

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..... y at the time of removal of goods. Following the order of this Court in the case of CIT v. Shri Ram Honda Power Equipment Ltd., this civil appeal filed by the Department is dismissed with no order as to costs. Annexure Excise duty - Execution of excise duty at time of valuing closing stock of finished goods ORDER Ms. H.N. Devani, J. - The Assessment Year is 1995-96. While admitti .....

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