Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2013 (4) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (4) TMI 112 - HC - Income TaxRejection of books of accounts invoking section 145 of the Act - Addition on account of suppression of production - Section 44AB of the Act - Held that:- :- We find that the findings of fact recorded by the authorities below are quite reasonable and neither can it be said to be vitiated by any error of law nor can it be branded as perverse findings justifying interference in this appeal preferred under section 260A of the Act. CIT [Appeals] held that the assessee maintained the books of accounts which were audited under the Companies Act and also under section 44AB of the Act The Tribunal took into consideration the contention of the assessee that variation in consumption of electricity might be caused due to various reasons such as break down of machinery, quality of raw materials, thickness of finished goods and frequency of power failure etc. and such facts could not be controverted by the Assessing Officer. The Tribunal further observed that the argument of the assessee was rather accepted by the Assessing Officer to the extent of 30%, for which no basis could be cited. - Decided against the revenue.
|