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Suspicion Alone Could Not Prove Suppressed Sales: SC
Case Law Details
- Case Name
- DCIT Vs Mahamaya Steel Industries Ltd (Supreme Court of India)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- Supreme Court of India
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DCIT Vs Mahamaya Steel Industries Ltd (Supreme Court of India)
SC Upholds Deletion of Unaccounted Sales Addition Due to Lack of Corroborative Evidence; SC Rejects Revenue Appeal Because Estimated Steel Yield Could Not Justify Tax Addition; SC Rules Income Tax Additions Cannot Be Based on Guesswork or Hypothetical Production Estimates; SC Affirms That Low Yield and Power Consumption Variations Alone Do Not Establish Suppressed Sales; SC Dismisses Revenue SLP Because No Evidence Supported Alleged Unaccounted Production; SC Upholds ITAT Order Deleting Addition Made on Estimated ...
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