TMI Blog2013 (10) TMI 372X X X X Extracts X X X X X X X X Extracts X X X X ..... filed any evidence to substantiate his claim that the engines replaced in earlier years have in fact been received by the appellant in the year under consideration. Also no material has been brought on record to show that there has been any change in the method of accounting or that the scrap generated by way of replacement has not been utilized for production in the earlier years – Decided agains ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... quantity formed part of the scrap shown by the assessee in the accounts?" We have gone through the orders passed by the A.O., CIT (A) and ITAT and find that the question as framed in referring the order does not arise for consideration of the Court in as much as the findings recorded by ITAT are findings of fact from which no question of law arise for consideration. The Income Tax Appellate T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... res 3.04 MT 36.53 MT Total:- 40.63 MT The assessee has stated that the machining was done for the first time this own place and thus it is found that 33.6 MT of machining scrap se generated is appearing in the closing stock. The assessee had declared opening stock of pig iron at 17.460 MT. In the whole document nor in the audit report papers filed by the assessee, there is no mention of receip ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... zed for production in the earlier years. The claim of letter results may be attributable to machining done by the assessee himself but no reliable material has been brought on record to prove the availability of scrap from within the declared stocks or purchases. The AO has made the addition after making a proper analysis and that same have been upheld by the CIT (A) on the basis of facts availabl ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
