2015 (2) TMI 151

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..... ed against the order of Ld. CIT(A)- II, Baroda dated 07.01.2012 for the assessment year 2005-06. The grounds raised by the revenue are as under:              "On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in allowing deduction of Rs. 1,25,342/- on account of unutilized CENVAT credit without appreciati .....

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..... duty realized on sales was included in the sale amount but out of entire amount of excise duty paid on purchases, only that portion of such excise duty paid which was utilized by way of MODVAT, had been included in the value of purchases and the balance amount of Modvat credit which could not be utilized in the present year was shown in the balance sheet as an amount receivable and this portion of .....

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