2014 (10) TMI 38

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.... For the Respondent : S.C.,Dhananjai Awashthi ORDER (Delivered by Dr. Satish Chandra,J.) The present appeal is filed by the assessee against the order dated 29.07.2005, passed by the Income Tax Appellate Tribunal, Delhi in I.T.A. No.1275/Del/2000 for the assessment year 1995-96. On 24.04.2009, the appeal was admitted by a Co-ordinate Bench on the following substantial questions of law:....

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.... that the assessee was a co-operative society and engaged in business of manufacturing and sale of sugar. During the assessment year under consideration, the assessee has claimed driage (shortage) of raw material (sugarcane). Details furnished reveals that there was a opening stock of sugarcane at 29.12 quintals and total purchase was made for 43,67,454.57 quintals against which 43,41,481 quintals....

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....e. He also submitted that in case of M/s. Kisan Sahkari Chini Mill the crashing capacity is in the larger quantity. The driage depends on the sugarcane quality, condition and other factors. The addition was made by the A.O., without rejecting the books of account, only on the basis of surmises and conjecture. Lastly, he made a request that the addition may kindly be deleted. On the other hand, ....

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....#39;s counsel that similar driage has been accepted by the authorities in the assessment year 1991-92 is not applicable as in that year no comparison was taken place. However, during the assessment year under consideration, a comparison has been made. Moreover, every assessment year is an independent assessment year. It may be mentioned that in the subsequent years the assessee has shown a lesser ....