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HC Deletes ₹16.61 Crore Addition as Estimated Yield Alone Could Not Prove Suppressed Sales
Case Law Details
- Case Name
- DCIT Vs Mahamaya Steel Industries Ltd (Chhattisgarh High Court)
- Appeal Number
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DCIT Vs Mahamaya Steel Industries Ltd (Chhattisgarh High Court)
No Addition for Alleged Unaccounted Production Without Evidence; Estimated 89% Production Yield Rejected as Basis for Tax Addition Due to Lack of Corroborative Evidence; Power Consumption Variations Alone Cannot Justify Addition for Suppressed Production, HC Holds; HC Upholds ITAT Order Deleting Addition Based on Conjectures and Estimated Steel Yield; Rejection of Books Invalid Where AO Failed to Show Evidence of Suppressed Sales; Chhattisgarh HC Rules Assessment Cannot Be Based on Pure Guesswork in Yield Supp...
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