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2015 (8) TMI 1519 - AT - Income TaxSuppressed production - unaccounted sales - erratic consumption of electricity - goods clandestinely removed - GP rate determination - HELD THAT:- We find identical issue had come up before the Tribunal in the case of Bhagyalaxmi Steel Alloys Pvt. Ltd. Vs. Addl.CIT [2015 (11) TMI 14 - ITAT PUNE] where both of us are parties. We find the Tribunal considering the arguments advanced by both the sides deleted the addition made on account of erratic consumption of electricity and the alleged investment in the purchase for effecting such unaccounted sales. The appeal filed by the Revenue challenging the application of GP rate and allowance of expenses are also dismissed by the Tribunal. Thus we hold that no addition can be made on account of erratic consumption of electricity and there is no alleged investment in the purchase for effecting such sales which goods have been clandestinely removed. In view of our deleting the addition in the hands of the assessee, the grounds of appeal raised by the Revenue, i.e. against application of GP rate and allowance of expenses are also dismissed. However, the AO is directed to include additional income in the hands of the assessee on account of clandestine removal of goods without payment of excise duty as admitted by the assessee before the DGCEI, Aurangabad. - Decided against revenue.
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