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TMI Blog1991 (8) TMI 39X X X X Extracts X X X X X X X X Extracts X X X X ..... (i) Unaccounted production profit 4,93,020 (ii) Unexplained investment 13,28,560 (iii) Scrap value of materials 57,601. Originally, an addition of Rs. 6,43,545 had been made in the assessment order completed on September 25, 1979, as the sale proceeds of unaccounted production of 49,903 cases of Indian made foreign liquor. An appeal was carried wherein the Income-tax Officer was directed to make a fresh assessment, after making certain enquiries. Thereafter, the Income-tax Officer made another assessment against which the present revision petition was filed. The assessee is a manufacturer of Indian made foreign liquor and sells the same. It explained the reason as to why there was a low yield of alcohol during a certain period. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essment order. Based on that, the Commissioner directed the Income-tax Officer to substitute the profit from unexplained production at Rs. 2,46,510 as against Rs. 4,93,020. The next important addition is in a sum of Rs. 13,28,560, which is the value of unexplained investment. This matter was re-examined by the Commissioner and he found that the Income-tax Officer had correctly considered the investment on unaccounted production and thereafter estimated the value and that the Income-tax Officer should substitute this figure for the addition of only Rs. 13,28,560 and affirmed the view taken by the Income-tax Officer. The other point that was argued was in relation to addition of Rs. 5 7,601 representing the closing stock as on June 30, 19 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e and the matter remitted for reconsideration. When this proposition was made, learned counsel was not prepared for the matter being reconsidered on that basis. Therefore, I do not think that the latter order could be taken as a test to judge the correctness of the order passed in the earlier proceedings. When the Commissioner has considered in detail the various factors in relation to additions made and after a detailed examination of the same, has come to the conclusion that additions should be made in a modified form and has given substantial relief to the petitioner, I do not think that this court should sit once again in judgment under article 226 of the Constitution, particularly when the petitioner is not able to establish or is not ..... X X X X Extracts X X X X X X X X Extracts X X X X
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