If the inclusive method is followed by the assessee in respect of excise duty and the sales credited by the assessee to the profit and loss account as well as the stock of finished goods were inclusive of excise duty, there is no need of credit separately made on account of excise duty to the profit and loss account. (AY. 2004-05)
Dy. CIT v. Stewarts and Lloyds of India Ltd. (2019) 74 ITR 677 (Kol.)(Trib.)
S. 145 : Method of accounting–Inclusive method–There is no need to credit separately made on account of excise duty to the profit and loss account.