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2012 (2) TMI 412 - ITAT CHANDIGARHProfit on the alleged inaccurate sale and on account of unexplained investment - Held that:- Customs, Excise and Service Tax Appellate Tribunal in the assessee's own case there is no merit in any addition being made in the hands of the assessee on account of the alleged suppression in production and also alleged investment in purchase of raw material. In view thereof, we hold that no addition on account of profit on the sale of unaccounted production or on account of unexplained investment merits to be made in the hands of the assessee. In agreement with the observations of the Commissioner of Income-tax (Appeals) in deleting the aforesaid addition as no independent evidence has been brought on record to establish that the assessee had, (a) suppressed its production and ; (b) it made sale of its unaccounted production, outside the books of account. Upholding the order of the Commissioner of Income-tax (Appeals) we dismiss ground Nos. 1 and 2 raised by the Revenue.
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