Addition on account of suppressed production on the basis of ...

Assessing Officer's Addition for Suppressed Production Overturned Due to Lack of Evidence Linking Electricity Use to Production.

April 6, 2021

Case Laws Income Tax AT

Addition on account of suppressed production on the basis of electricity consumption - the AO failed to appreciate the facts and did not attempt to establish a direct nexus between the production and electricity consumed for the manufacturing and arrived at a conclusion that there was an excess consumption of electricity resulting in suppressed production - AT

View Source

← Previous Next →

Addition on account of suppressed production on the basis of ...

Assessing Officer's Addition for Suppressed Production Overturned Due to Lack of Evidence Linking Electricity Use to Production.

April 6, 2021

Case Laws Income Tax AT

You may also like:

The ITAT invalidated digital evidence seized during a search operation, specifically a pendrive, as inadmissible under Section 65B of the Indian Evidence Act. The...

Addition u/s 68 OR 41(1) - unexplained cash credit - Cessation of liability - The appellant contested additions to their income, alleging bogus sundry creditors. Despite...

The assessment years beyond six years but not exceeding ten years can be reopened u/s 153A only if the Assessing Officer possesses evidence depicting escapement of...

ITAT overturned multiple additions made by AO regarding property transactions and unexplained cash receipts. On capital gains computation under s.50C, ITAT directed...

The High Court quashed the reopening of assessments u/s 148, holding that the reasons recorded by the Assessing Officer were cryptic, vague, lacking nexus, and...

Addition u/s 69A - cash loans given by the assessee as unexplained - decoding of the entries in the seized materials - The tribunal found that the assessing officer's...

The assessee's reconciliation explained total purchases, including capital goods and purchase returns, tallying with recorded purchases. The Tribunal correctly held that...

Penalty u/s 271(1)(c) - The Appellate Tribunal observed that the appellant, during reassessment proceedings, had filed their return of income but failed to provide...

Unaccounted investment u/s 69 - Addition on account of suppressed purchase price of land purchased - Since the Assessing Officer failed to pinpoint any instance by...

Reopening of assessment u/s 147 - Assessing Officer to usurp the jurisdiction to reopen the assessment - The first Assessing Officer has made the reassessment after...

Assessment order u/s 143(3) quashed for non-issuance of show cause notice. Case transferred from faceless Assessing Officer to Jurisdictional Assessing Officer u/s...

Bogus loss from trading in shares/securities - ITAT observed that, despite the appellant's submission of evidences during the assessment proceedings, the assessing...

Impugned order set aside, matter remitted back to Assessing Officer for fresh consideration. Assessing Officer rejected claim based on Tax Audit Report not being duly...

Faceless assessment notices issued by Joint Assessing Officer instead of Facessing Assessing Officer held invalid as lacking jurisdiction u/s 151A read with Central...

ITAT held that the Assessing Officer's addition of Rs. 22.25 Crore under Section 69 was unsustainable. The addition was based solely on a retracted statement by the...

Quick Updates: