2009 (8) TMI 658

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....d by Adarsh Kumar Goel J.- Delay condoned. Heard on the merits. 2. The assessee has preferred this appeal under section 260A of the Income-tax Act, 1961 (in short, "the Act") against the order of the Income-tax Appellate Tribunal, Chandigarh "B" Bench in I. T. A. No. 53/Chandi/ 2000 and Co. No. 9/Chandi/2004 dated December 24, 2007, for the assessment year 1997-98, proposing to raise the fol....

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....view taken by the Assessing Officer was restored by reiterating the discrepancies which were noticed by the Assessing Officer. As regards yield, the Tribunal observed that proper records with regard to production and generation of final product were not maintained. The entries were made on estimated basis. The records maintained were, thus, not complete from which the correct income could be deriv....