Sec. 145A of the Income-tax Act, 1961 - Method of accounting - Tribunal rightly applied the provisions of Section 145-A in the case of the assessee despite the fact that the Assessee had not debited the amount of excise duty in its books of account. High Court dismissed the appeal of the assessee holding that “The excise duty is payable as soon as the excisable item is produced or manufactured. The liability to pay the excise duty does not depend on any subsequent event although it may be collected after sometime] If interpretation which is sought to be placed by the appellant is accepted, Sub-Section (b) of Section 145-A of the Act would become redundant. This being so, we do not find any merit in the appeal”. Leave of the assessee against the order of High Court granted. - KISAN SAHKARI CHINI MILLS LTD. V/s CIT - [2019] 267 TAXMAN 383 (SC)