Chairman Admits Raw Material Shortage u/s 132(4); No Evidence of Ferro Alloys Production, No Tax Added.

Sale of unaccounted finished goods - Chairman in a disclosure petition u/s 132(4) accepted shortage of raw material on account of cash sale of the raw material itself and offer for tax - neither any evidence of the production of Ferro Alloys nor any evidence of its sales have been brought on record by the A.O. - no addition .....

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