https://www.taxtmi.com/caselaws?id=116966 The appeal filed by the revenue against the deletion of a trading addition due to excessive consumption of rice husk was dismissed in favor of the assessee. The ITAT upheld the CIT(A)'s decision, emphasizing that the estimation of rice husk consumption should consider various factors and cannot be disallowed without proving it was not for business purposes. The Assessing Officer's failure to provide valid reasons for rejecting the books of account and estimating higher income was deemed unjustified. The ITAT highlighted the importance of fair and reasoned assessments in tax matters, leading to the deletion of the trading addition in question. en-us Mon, 16 Jun 2003 00:00:00 +0530 Tue, 19 Jun 2012 12:31:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=116966 The appeal filed by the revenue against the deletion of a trading addition due to excessive consumption of rice husk was dismissed in favor of the assessee. The ITAT upheld the CIT(A)'s decision, emphasizing that the estimation of rice husk consumption should consider various factors and cannot be disallowed without proving it was not for business purposes. The Assessing Officer's failure to provide valid reasons for rejecting the books of account and estimating higher income was deemed unjustified. The ITAT highlighted the importance of fair and reasoned assessments in tax matters, leading to the deletion of the trading addition in question. Case-Laws Income Tax Mon, 16 Jun 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=116966