https://www.taxtmi.com/caselaws?id=155034 The Commissioner of Income-tax (Appeals) deleted additions totaling Rs. 91,89,357 and Rs. 25,70,931 for unexplained sales and purchases, respectively. The Assessing Officer's reliance on a disputed confessional statement and excessive electricity consumption was deemed insufficient by the ITAT. The Tribunal emphasized the need for clear and corroborated evidence to support additions. The ITAT upheld the deletion of both additions, citing lack of reliable basis for estimating unaccounted production and purchases. The Revenue's appeal was dismissed, affirming the Commissioner's decision. en-us Thu, 01 Mar 2012 00:00:00 +0530 Mon, 07 May 2018 11:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=155034 The Commissioner of Income-tax (Appeals) deleted additions totaling Rs. 91,89,357 and Rs. 25,70,931 for unexplained sales and purchases, respectively. The Assessing Officer's reliance on a disputed confessional statement and excessive electricity consumption was deemed insufficient by the ITAT. The Tribunal emphasized the need for clear and corroborated evidence to support additions. The ITAT upheld the deletion of both additions, citing lack of reliable basis for estimating unaccounted production and purchases. The Revenue's appeal was dismissed, affirming the Commissioner's decision. Case-Laws Income Tax Thu, 01 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=155034