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2013 (4) TMI 43 - GUJARAT HIGH COURTDeficit in the yield at 9.1% to 9.5% - As per AO production and wastage which was not accurate. - Held that:- Tribunal was of the opinion that the actual wastage in the form of dust and stone would come to 2.10% and not 8.46%. Tribunal noted that byproduct consisting of chuni, dust and waste together comes to 8.46% whereas Kurma or Chuni is by-product and not waste. Tribunal was of the opinion that Assessing Officer could not have made additions on the basis of estimates without rejecting book results or without finding out any fault with the books of account. Tribunal found that the Assessing Officer and CIT(Appeals) both had committed error in treating by product Kurma as waste whereas same was sold in the market fetching considerable sale proceeds to assessee. This has resulted into erroneous working out of wastage. Tribunal also compared similar data and figures of another assessee carrying on similar activities. - Decided against the revenue.
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