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Chhattisgarh HC Deletes Income Tax Addition as Estimated Yield Was Based on Guesswork
Case Law Details
- Case Name
- DCIT-2(1) Vs Mahamaya Steel Industries Ltd. (Chhattisgarh High Court)
- Appeal Number
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- Date of Judgement/Order
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DCIT-2(1) Vs Mahamaya Steel Industries Ltd. (Chhattisgarh High Court)
No Addition for Suppressed Production Without Evidence; Chhattisgarh HC Rejects Tax Addition Based on Arbitrary 89% Production Yield Estimate; Income Tax Addition Set Aside as AO Failed to Prove Unaccounted Sales; Chhattisgarh HC Upholds ITAT Order Deleting Addition for Alleged Low Production Yield; Rejection of Books Invalid Without Tangible Evidence; Chhattisgarh HC Says Tax Assessments Cannot Rest on Bare Suspicion; Estimated Yield Comparison With Other Units Insufficient for Tax Addition: Chhattisgarh HC...
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