1980 (4) TMI 208

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....ed the yield of rice milling at 61.6 per cent which was taken to be low by the ITO. The assessee disclosed the production of rice of 1495 quintals for 8732 quintals of paddy. The ITO considered the yield as low and he adopted the yield at 63 per cent. He, therefore, calculated the shortage of 34 quintals and valued the same at the rate of Rs. 165 per quintal. Accordingly, he added Rs. 5,680 in the....