Suspicion Alone Could Not Prove Suppressed Sales: SC

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 Yield and Consump...