Held that the invoices of the deemed import filed by the assessee demonstrated that the assessee had paid value added tax on such purchases. The assessee had incurred value added tax expenses on the deemed import which were eligible to be set off against the value added tax output. Thus the finding of the Principal Commissioner that there was no value added tax input available to the assessee on the deemed import was incorrect. However the question whether the assessee had claimed value added tax input on the deemed import as an expense in the profit and loss account had not been verified by the Assessing Officer. The assessee had not brought anything on record suggesting that it had not claimed value added tax input on the deemed import as an expense in the profit and loss account. For this limited purpose, the order passed by the Assessing Officer was erroneous in so far prejudicial to the interests of the Revenue. There was no reason to interfere in the finding of the Principal Commissioner. (AY.2014-15)