Unaccounted sale of Gajjak, Makhane and Namkeen - rejection of ...

Court Rules Yield Ratio Alone Insufficient for Proving Unrecorded Sales; Requires Additional Evidence for Income Addition.

June 24, 2023

Case Laws Income Tax AT

Unaccounted sale of Gajjak, Makhane and Namkeen - rejection of books of accounts - Shortage has been equated with undisclosed sales basely solely on yield ratio. In our view, no doubt yield ratio is one of the guiding factors which needs to be considered for determining appropriate level of production but at the same time, to equate production with sales, there has to be something more in terms of positive evidence in form of unrecorded sales realization which has not been entered in the regular books of accounts which is apparently absent and not available on record. - No additions - AT

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Unaccounted sale of Gajjak, Makhane and Namkeen - rejection of ...

Court Rules Yield Ratio Alone Insufficient for Proving Unrecorded Sales; Requires Additional Evidence for Income Addition.

June 24, 2023

Case Laws Income Tax AT

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