2012 (7) TMI 908

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..... ppeal before us against the order of Learned CIT(Appeals) dated 24.10.2011 passed for assessment year 2008-09. The solitary grievance of the assessee is that Learned CIT(Appeals) has erred in confirming the addition of Rs. 4 lacs. 2. The brief facts of the case are that the assessee firm at the relevant time was engaged in manufacturing of rice. It has filed return of income on 3rd September, 200 .....

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..... onstrating the quality of rice as well as paddy and details of other bye product i.e. Nakku, Chilka, Dobar, tibar and broken rice etc. When learned Assessing Officer confronted the assessee on this issue, it was stated by the assessee that it is not possible to maintain quality-wise details of all items. Assessing Officer has rejected the book results of the assessee and made an ad hoc addition of .....

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..... ted in accordance with the method of accountancy adopted by an assessee subject to the conditions enumerated in sub-sections (2) (3) of section 145 of the Income-tax Act, 1961. It means that the Assessing Officer has to determine the income in accordance with the method of accounting adopted by an assessee, provided that method enabled the Assessing Officer to deduce the true income of an assessee .....

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