ITAT deletes Addition for Scrap on Last day of Financial Year not included in Stock

M/s Hero Moto Corp Ltd. Vs DCIT (ITAT Delhi)

As regards to Ground, relating to disallowance of cost of scrap material amounting to Rs.6.34 lacs, it can be seen that in the course of the business of manufacturing, the process generates some scrap on account of rejection of components, obsolescence of components, etc. In the course of manufacturing process, scrap is generated mainly on account of grinding scrap in machining process of various components. Such scrap generated in the course of manufacturing is not separately deb

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