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TMI Blog1980 (10) TMI 114X X X X Extracts X X X X X X X X Extracts X X X X ..... on account of low yield from ground-nuts. 2. The assessee is an AOP deriving income from Dal & Oil Mills. While examining the books of account, the ITO found that the assessee crushed 9680 quintals of ground-nut and the yield of oil was disclosed at 2756 quintals. The yield of oil was, thus, found to be 38.25 per cent, which was considered low. The ITO estimated the yield at 39 per cent and the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 500 1266-73-000 38.20 per cent 2051-25 61.80 per cent From the above comparative chart it was shown that during the asst. yr. 1971-72, when the yield was shown by the assessee at 38 per cent, an addition of only Rs. 3,000 was made, while the yield of 38 per cent shown during the asst. yr. 1972-73 was accepted by the Tribunal. It was further submitted that the yield to 38.20 per cent shown by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... asonable. During the asst. yr. 1971-72, when yield shown by the assessee was 38 per cent, only a nominal addition of Rs. 3,000 was made. During the asst. yr. 1974-75 yield of 38.20 per cent has been accepted by the ITO. compared to the yield in respect of the two assessment years mentioned above, the yield of 38.25 per cent shown by the assessee this year appears to be quite reasonable and deserve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... On appeal, the CIT (A) upheld the disallowance for the reason that payment of penalty for infringement of Sales Tax laws could not be allowed as a deduction. 8. Before us, the ld., counsel for the assessee filed a copy of the profit and loss account of the AOP for the relevant assessment year and pointed out that only a sum of Rs. 4,320 on account of various sales tax penalties was debited to th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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