https://www.taxtmi.com/caselaws?id=308796 The Tribunal allowed the assessee's appeal, removing additions related to alleged suppressed production and profit estimation of TMT bars based on electricity consumption. It dismissed the Revenue's appeals, supporting the CIT(A)'s decision against arbitrary additions without substantiating evidence. The Tribunal highlighted the necessity for concrete evidence and investigation to support claims of suppressed production and sales, rejecting estimations based on previous years or assumptions without current evidence. en-us Wed, 30 Nov 2016 00:00:00 +0530 Tue, 05 Dec 2023 08:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308796 The Tribunal allowed the assessee's appeal, removing additions related to alleged suppressed production and profit estimation of TMT bars based on electricity consumption. It dismissed the Revenue's appeals, supporting the CIT(A)'s decision against arbitrary additions without substantiating evidence. The Tribunal highlighted the necessity for concrete evidence and investigation to support claims of suppressed production and sales, rejecting estimations based on previous years or assumptions without current evidence. Case-Laws Income Tax Wed, 30 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308796