https://www.taxtmi.com/caselaws?id=408828 The Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income Tax (Appeals) (CIT(A))'s decision to delete the addition of unaccounted income from unaccounted production made by the Assessing Officer (AO). The CIT(A) relied on a committee's report recommending a 15% variation in power consumption per metric ton of finished goods as the industrial norm. The ITAT found the CIT(A)'s decision well-reasoned, citing a similar precedent, and dismissed the Revenue's appeal. The variation in power consumption fell within the acceptable range, leading to the deletion of the addition. en-us Tue, 06 Apr 2021 00:00:00 +0530 Tue, 22 Jun 2021 10:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408828 The Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income Tax (Appeals) (CIT(A))'s decision to delete the addition of unaccounted income from unaccounted production made by the Assessing Officer (AO). The CIT(A) relied on a committee's report recommending a 15% variation in power consumption per metric ton of finished goods as the industrial norm. The ITAT found the CIT(A)'s decision well-reasoned, citing a similar precedent, and dismissed the Revenue's appeal. The variation in power consumption fell within the acceptable range, leading to the deletion of the addition. Case-Laws Income Tax Tue, 06 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408828