1981 (6) TMI 72

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....e addition of Rs. 4,130 on account of low yield in ground-nut and cotton-seed account. 2. During the course of examination of accounts for the asst. yr. 1976-77, relevant to the accounting period ending 31st March, 1976, the ITO found that the yield of oil in the ground-nut account was shown by the assessee at 41 per cent and in the refined oil account at 12.6 per cent. Before the ITO the asses....

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....ne through the records, and, in our opinion, the addition of Rs. 4,130 made by the ITO is without any basis. We find that in the detailed explanation dt. 4th Jan., 1977, filed before the ITO it was pointed out that the assessee firm had maintained regular and systematic books of accounts and quantitative details are available. During the year under consideration, the yield of kernel from the groun....