Excise duty to be included in value of closing stock even if it was due but not paid by assessee

IT: In terms of provisions of section 145A, true value of closing stock would include amount of any tax duty or cess having fully paid, payable or incurred by assessee to bring goods to place of its location and condition as on date of valuation, and, thus, it would be immaterial whether assessee has paid excise duty or not for purposes of arriving at correct valuation of closing stock

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