9911796707
TMI Blog2023 (8) TMI 1075X X X X Extracts X X X X X X X X Extracts X X X X ..... er law which has led the AO to calculate suppression of sales to 20% - ITAT deleted the addition - HELD THAT:- A bare perusal of the contents reveals Tribunal found that in absence of any charge of evasion of royalty/tax, it cannot be presumed that there is any suppression of quantity of production from the mine or the purchase made by appellant from M/s Jai Minerals. The Tribunal also found that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Income Tax Act in regard to the dispute pertaining to assessment year 2012-13 proposing following substantial questions of law: 1. Whether on the facts and within the legal spectrum of the case, Hon'ble ITAT has erred in upholding the decision of Ld. CIT(A) by deleting the addition of Rs. 69,18,07,576/- made by the AO on account of suppression of sales of iron ore ? 2. Whether on th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ITAT has applied the relevant law by ignoring the suppression of sales of iron ore and the legal principles arising therefrom ? 7. Whether, the suppression rate that was worked around 20% has been ignored by the ITAT in accordance with law or not ? 8. Whether, the Hon'ble ITAT has erred in mechanically upholding the decision of CIT(A) by ignoring the relevant law regarding appreciation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ound that the findings leading to addition by the Assessing Officer are based on presumption rather than proof. Moreso, other findings rendered in the aforesaid paragraphs of the impugned order reveal that they are based on factual disputes and, therefore, neither give rise to any substantial proposed question of law as proposed by the Revenue or otherwise. In the absence of any substantial ..... X X X X Extracts X X X X X X X X Extracts X X X X
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