https://www.taxtmi.com/caselaws?id=267028 The Tribunal concluded that no addition could be made solely based on electricity consumption data and theoretical reports. It upheld the CIT(A)'s estimation of GP on suppressed sales at 4% and directed the AO to verify and include additional income on account of clandestine removal of goods as admitted before the Settlement Commission. The Tribunal dismissed the Revenue's appeal for a higher GP rate and confirmed the deletion of additions based on erratic electricity consumption. en-us Thu, 24 Sep 2015 00:00:00 +0530 Thu, 29 Oct 2015 06:07:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267028 The Tribunal concluded that no addition could be made solely based on electricity consumption data and theoretical reports. It upheld the CIT(A)'s estimation of GP on suppressed sales at 4% and directed the AO to verify and include additional income on account of clandestine removal of goods as admitted before the Settlement Commission. The Tribunal dismissed the Revenue's appeal for a higher GP rate and confirmed the deletion of additions based on erratic electricity consumption. Case-Laws Income Tax Thu, 24 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267028