2013 (1) TMI 650

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....ant is in appeal under Section 260-A of the Income Tax Act, 1961 (for short 'the Act') against an order dated 17.05.2012 (A-3) passed by the Income Tax Appellate Tribunal Bench-A, Chandigarh (for short 'the Tribunal') in ITA No. 1119/CHD/2011 in respect of the assessment year 2008-09. The appellant has raised the following substantial questions of law:     "(i) Whether under the ....

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....bha in respect of yield for the cotton seeds but in spite of said report, the Tribunal has assessed the yield @ 11% as against 9.85% declared by the assessee in respect of oil from cotton seeds. The Assessing Officer has adopted the yield at 11% and made addition of Rs. 8,68,800/- in income. The said addition was reduced by the Commissioner of Income Tax(A) to Rs. 2 lacs but the Tribunal accept....

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....ibunal also noticed the fact that there was wide variation in the percentage of yield of oil, sale rates of oil and oil cakes in the market, but keeping in view the yield disclosed by the appellant in the consolidated form not only the books of account were rejected but also the yield was assessed in a particular manner. The order passed by the Tribunal is based upon pure findings of fact. We find....