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2017 (8) TMI 1621 - AT - Income TaxUnaccounted investment and unaccounted profit out of unaccounted production - variation of consumption of electricity was more than 15% - Rejection of books of accounts - HELD THAT:- In identical issues, wherein the additions made by the AO on estimation basis as discussed above were upheld by the concerned CIT(A), the assessee preferred appeals before this Tribunal and this Tribunal vide its common order dated 14.2.2017, passed in a bunch of about 85 appeals in the case of M/s Modi Oil & General Mill, Mandi Gobindgrh [2017 (2) TMI 1319 - ITAT CHANDIGARH] while observing that consequent to the report of the Committee constituted by the Principal, Commissioner of Income Tax, Patiala some internal guidelines regarding acceptability of variation upto 15% have been issued and further that no additions have been made on similar issue in subsequent years by the AO has remanded the matter to the Assessing officer with a direction to decide the issue afresh in accordance with law in the light of the internal guidelines issued by the Principal, Commissioner of Income Tax, Patiala. In our view this matter need not to be restored in the present appeals as the Ld. CIT(A) while deciding the above appeals in favour of the assessee has already followed the internal guidelines of the committee constituted by the Principal Commissioner of Income Tax, Patiala. CIT(A) has accepted the variation of 15% in consumption of electricity per metric ton of finished goods as per the report of the Committee. He has also observed that pursuant to the report of committee, the Assessing officers have also followed this norm while making assessment in similar type of cases and have accepted the book results shown by the assesses. Considering the above facts and circumstances, we do not find any infirmity in the order of the CIT(A) while directing the Assessing officer to accept the books results shown by the assessee for this year also and to delete the additions made by the Assessing officer on account of unaccounted profits / unaccounted investment - Decided against revenue.
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