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2018 (7) TMI 1405 - AT - Income TaxAddition on account of unsubstantiated claim of wastage - Held that:- As noticed that the assessee has furnished quantitative details of each gram of raw gold issued to goldsmiths for getting gold ornaments manufactured. The confirmation letters and ledger account copies of the goldsmiths have also been filed. The Assessing Officer has been unable to point out any mistake in these records. The books of accounts are audited and quantitative details are certified by the auditors. The Assessing Officer has not rejected the books of accounts before making such ad hoc addition that too without bringing any clinching evidence against the assessee. This fact is also not disputed that in the preceding years also the assessee has claimed similar type of wastage of almost around same per centage which has been accepted by the revenue authorities also. - decided against revenue
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