https://www.taxtmi.com/caselaws?id=24234 The Tribunal sustained relief for yarn purchased after closure of manufacturing activity because the exported goods could not be explained without allowing for yarn reasonably used in their manufacture. Although no manufacturing was done after 30 September 1965, it estimated yarn consumption from export weight, yarn purchases, estimated wastage, and the value of closing stock shown by the assessee. The relief was therefore upheld on factual estimation supported by the record, and the issue was decided against the Revenue and in favour of the assessee. en-us Tue, 08 Nov 1988 00:00:00 +0530 Mon, 18 Jan 2010 16:43:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24234 The Tribunal sustained relief for yarn purchased after closure of manufacturing activity because the exported goods could not be explained without allowing for yarn reasonably used in their manufacture. Although no manufacturing was done after 30 September 1965, it estimated yarn consumption from export weight, yarn purchases, estimated wastage, and the value of closing stock shown by the assessee. The relief was therefore upheld on factual estimation supported by the record, and the issue was decided against the Revenue and in favour of the assessee. Case-Laws Income Tax Tue, 08 Nov 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24234