9911796707
TMI Blog2013 (11) TMI 1489X X X X Extracts X X X X X X X X Extracts X X X X ..... terial before us which would justify the yield shown by the assessee - Decided against assessee. - ITA No. 141 of 1999 - - - Dated:- 22-10-2013 - Rajive Bhalla And Bharat Bhushan Parsoon,JJ. For the Appellant : Mr Aalok Mittal, Adv. For the Respondent : Ms Savita Saxena, Adv. JUDGMENT Dr. Bharat Bhushan Parsoon, J The assessee i.e. M/s Jagdamba Rice Mills has filed this appeal under Section 260A of the Income Tax Act, 1961 (hereinafter referred to as, the Act) challenging order dated 26.5.1999 passed by the Income Tax Appellate Tribunal (for short, the Tribunal), Chandigarh Bench, Chandigarh. 2. The Assessing Officer (for short, the AO) while framing assessment on 24.1.1991 for the year 1989-90 qua the assessee, h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f accounts, the AO had rejected the books of accounts. Therafter, picking up two concrete comparable cases, the AO had found that yield of the assessee was shown to be much less even on most conservative basis. 4. In appeal preferred by the assessee, evaluating defects pointed out by the AO in rejection of the books of accounts of the assessee, findings of rejection of books was affirmed by the Commissioner of Income Tax (Appeals) [for short, the CIT(A)]. Similarly, addition of Rs.1,77,000/- as value of the supressed yield in respect of rice was also affirmed. However, with respect to additions made qua rice bran, phuk and husk, plea of the assessee was accepted and he got relief of Rs.5,32,085/- in the trading account. 5. Undettered, a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs. 8. The Tribunal taking into account all these facts and noticing in particular that comparable cases of the area of the assessee i.e. Sunam, having been pointedly mentioned by the AO, could not be distinguished by the assessee, observed that yield of rice in its case was only 64.50%, whereas even in the case of 9 mills from Sunam cited by the appellant, the yield was 65% or more and in the comparable cases cited by the AO, the yield was even more than 66%. 9. The Tribunal upholding rejection of books of accounts of the assessee, confirmed the decision of the CIT(A) where rice yield adopted by the AO at 65.5% was approved, taking it to be just and fair. Addition of Rs.1,77,000/- on account of supression of yield of rice to the tune o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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