https://www.taxtmi.com/caselaws?id=390546 The ITAT allowed both appeals of the assessee for statistical purposes, remitting the matter back to the A.O. for fresh consideration. The Tribunal emphasized the need for the assessee to substantiate the nature of the scrap sold and whether it was for manufacturing or trading purposes. The A.O. was directed to decide the issue afresh in light of judicial pronouncements and the nature of the scrap business as supported by the assessee. en-us Fri, 03 Jan 2020 00:00:00 +0530 Mon, 06 Jan 2020 06:40:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390546 The ITAT allowed both appeals of the assessee for statistical purposes, remitting the matter back to the A.O. for fresh consideration. The Tribunal emphasized the need for the assessee to substantiate the nature of the scrap sold and whether it was for manufacturing or trading purposes. The A.O. was directed to decide the issue afresh in light of judicial pronouncements and the nature of the scrap business as supported by the assessee. Case-Laws Income Tax Fri, 03 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390546