1975 (8) TMI 56

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....f Rs. 10,000 made by the ITO on account of low yield of Dana. The facts are that the assessee is a registered firm engaged in the business of crushing groundnut oil. During the assessment proceedings the ITO looked into the yield chart of dana from Moongphali. According to this chart the assessee had 4,292 quintals of groundnut which included opening stock as well as purchases during he year under....

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.... per cent driage. However after giving some margin for inferior quality of dana, he worked out the yield at 66 per cent which come to 2,772 quintals as against 2,718 quintals shown by the assessee. Thus he arrived at the shortage of 54 quintals of dana and after calculating the average sale price of dana at Rs. 239 per quintal, he arrived at the value of shortage of dana at 12,906, thereby he made....