Addition for alleged suppression of production based on mere variation in electricity consumption not sustainable

Brief of the Case ITAT Pune held In the case of ACIT vs. M/s. Nilesh Steel & Alloys Pvt. Ltd. that the consumption of the electricity for the manufacture of mild steel ingots/billets depends on various factors like quality of raw material which is the major input, voltage of the supply, power interruptions, mechanical and electrical breakdowns and the chemical composition of the liquid metal which has to be finally cast into ingots/billets. The AO failed to appreciate these facts and did not attempt to establish a direct nexus between the production and electricity consumed for the manufac...