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Extrapolation of wages restricted to evidences found during survey: ITAT Chandigarh
Case Law Details
- Case Name
- Swati Industries Vs DCIT (ITAT Chandigarh)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2019-20
- Courts
- All ITAT, ITAT Chandigarh
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Swati Industries Vs DCIT (ITAT Chandigarh)
ITAT Chandigarh held that extrapolation of wages for the whole year cannot be sustained the same is to be restricted to the evidence found during course of survey. Accordingly, appeal of assessee allowed.
Facts- The assessee is engaged in the manufacturing of Scaffolding items. During the course of survey, assessee had surrendered Rs. 1,60,00,000/- on account of difference in sale price of scrap and as per actual sale amount and sales price as booked in the books of accounts and difference in wages and salary as per books of accounts ...
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