TaxTMI 
TaxTMI 
2015 (2) TMI 329
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....al was right in deleting the disallowance made under Section 10B of the Income Tax Act? 2. Whether in the facts and circumstances of the case, the Tribunal was justified in drawing the conclusion that difference in sale price could be possible by merely relying on the statement of the assessee and failing to appreciate material evidence relied on by the Assessing Officer, as to the inflation of profit for 10B deduction? 3. Whether in the facts and circumstances of the case, the Tribunal was right in not appreciating the fact that the Assessing Officer has fairly drawn his conclusion that there is shifti....
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....arative chart as found in the assessment order below: Tax invoice No. & Date Description of the goods Quantity in CBM Rate per CBM Amount + Tax CA/CST/20/08-09 dated 28.09.2008 Dimensional Granite Blocks 9.2070 30,000 2,81,734 CA/CST/21/08-09 dated 06.11.2008 Dimensional Granite Blocks 8.2258 30,000 2,51,709 CA/CST/23/08-09 dated 02.01.2009 Dimensional Granite Blocks 17.6740 30,000 5,40,824 10,74,267 The abstract of transactions involved between these entities in comparison with third parties is tabulated and provided below: Amount Product Sold to CSIPL Sold to others Slabs 39,470 723 ....
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.... of the Commissioner of Income Tax (Appeals), both the Revenue as well as the assessee went on appeal before the Income Tax Appellate Tribunal. 6. The Tribunal, after hearing both sides, allowed the appeal filed by the assessee and dismissed the appeal filed by the Revenue holding that it was only an apprehension of the Assessing Officer that the assessee had shifted profits for the purpose of claiming deduction under Section 10B of the Act and the analysis made by the Assessing Officer was not a conclusive proof to decline deduction under Section 10B of the Act. The Tribunal also upheld the order of the Commissioner of Income Tax (Appeals) with regard to the deletion of disallowance made under Section 40(a)(i) of the Income Tax Act. ....
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.... dimension with CBM. There is nothing in the assessment order to show that the dimensional granite blocks is of a particular size, so that it should be said as comparable for all purposes. This assumes importance. It is an admitted case of the assessee herein that the assessee is engaged in the manufacture and export of granite monuments. The business of the other parties is not known. 11. The Tribunal had accepted the plea of the assessee that in granite dimensional blocks trade, price may vary depending upon size of the block and uniformity in colour, defects etc., as granite is a natural product and if there is any mole, crack or difference in colour, the same could not be exported and hence there are lot of wastages. The Tribunal whi....