TMI Blog2017 (8) TMI 1621X X X X Extracts X X X X X X X X Extracts X X X X ..... d 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 acc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed that the amount of electricity consumed was directly related to the production of finished goods. In order to co-relate the consumption of electricity vis- -vis production shown, the Assessing officer gathered information regarding the consumption of electricity from the Electricity Board. The Assessing officer analyzed the consumption data of electricity vis-a vis the production of finished goods and observed that there were wide variation in ratio of electricity units consumed to per metric tons of finished goods produced during the year. He further observed that on some days, electric units consumed were very low whereas finished goods produced were very high giving a very low value of electric units consumed to per ton of finished go ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... proceeded to frame the assessment in the manner as provided u/s 144 of the Act. He, thereafter estimated the income of the assessee on the basis of minimum valuation of average of electric unit consumed per metric ton of finished goods produced for over the period of 30 days. He took the lower average value of electric units consumed per metric ton of average finished goods over a period of 30 days and on this basis, and calculated the actual month wise production of the assessee. He compared the same with that shown in the books of account of the assessee and estimated the unaccounted production for each month. Thereafter, on the basis of average sales rate, the value of total unaccounted production was estimated in monetary terms and the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , its book results were accepted for the assessment year 2013-14. It was, therefore, pleaded that its book results for the assessment year 2012-13 should also be accepted and consequently, the addition should be deleted. The Ld. CIT(A) got verified from the Assessing officer the above contentions of the assessee which was reported to be correct by the Assessing officer. The Ld. CIT(A) thereafter held that once an issue has been decided on merits in a subsequent year, it would not be appropriate to take a different view for the year under consideration. He, therefore, relying upon the report of the Committee constituted by the Principal Commissioner of Income Tax, Patiala held that as decided by the Committee, the assessee was entitled to be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessees 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 and Others in ITA No. 149/Chd/2016 and Others 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 Assessing officer, 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 Princi ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
