https://www.taxtmi.com/caselaws?id=782292 ITAT Delhi allowed the assessee's appeal and dismissed the Revenue's appeal. It held that estimation of suppressed production based solely on electricity consumption was unsustainable, especially when the AO had not rejected the books and CIT(A) himself accepted that electricity-based estimation was not the best method. The Tribunal found no basis for the reduced production rate and GP rate adopted by CIT(A) and directed deletion of the entire addition for alleged unaccounted profit. ITAT also deleted the addition for alleged excess stock found during survey, holding that the survey-based stock valuation led to an impossible GP rate and could not override the assessee's consistent stand that no excess stock existed. en-us Thu, 31 Jul 2025 00:00:00 +0530 Wed, 26 Nov 2025 17:13:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782292 ITAT Delhi allowed the assessee's appeal and dismissed the Revenue's appeal. It held that estimation of suppressed production based solely on electricity consumption was unsustainable, especially when the AO had not rejected the books and CIT(A) himself accepted that electricity-based estimation was not the best method. The Tribunal found no basis for the reduced production rate and GP rate adopted by CIT(A) and directed deletion of the entire addition for alleged unaccounted profit. ITAT also deleted the addition for alleged excess stock found during survey, holding that the survey-based stock valuation led to an impossible GP rate and could not override the assessee's consistent stand that no excess stock existed. Case-Laws Income Tax Thu, 31 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782292