https://www.taxtmi.com/caselaws?id=269935 The Tribunal overturned the additions made regarding alleged suppression of production and sales due to erratic electricity consumption. The rejection of books of accounts under Section 145 and the application of Gross Profit rate on suppressed sales were also reversed. Related additions for investment in purchases were dismissed. The Tribunal emphasized the need for concrete evidence to support additions, stating that assumptions and presumptions alone are insufficient. en-us Wed, 28 Oct 2015 00:00:00 +0530 Thu, 24 Dec 2015 10:10:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269935 The Tribunal overturned the additions made regarding alleged suppression of production and sales due to erratic electricity consumption. The rejection of books of accounts under Section 145 and the application of Gross Profit rate on suppressed sales were also reversed. Related additions for investment in purchases were dismissed. The Tribunal emphasized the need for concrete evidence to support additions, stating that assumptions and presumptions alone are insufficient. Case-Laws Income Tax Wed, 28 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269935