2012 (8) TMI 1168

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....Act, 1961 is directed against the order dated 07.01.2011 of the Income Tax Appellate Tribunal, Ahmedabad Bench 'C in ITA No. 828 of 2009. 1.1 Following two questions are sought to be raised by the appellant proposing them as substantial questions of law. "[1] Whether the Appellate Tribunal is right in law and on facts in deleting the additions of ₹ 32,92,485/- made by the Assessi....

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....,92,485/- in respect of unaccounted purchases. The second addition was with regard to gross profit on unaccounted sales for ₹ 6,81,868/-. The Assessing Officer was of the view that the average consumption of electricity per quintal exceeded and therefore there was unaccounted production of castor oil. Consequentially, the aforementioned two additions came to be made. 3.1 In the assessee&#39....

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....ot;Admitted factual position is that merely on the basis of some variation in few months in the electricity consumption, the Assessing Officer had made the impugned presumptive addition by wrongly holding that there ought to be corresponding unaccounted purchases. In this regard, a specific query has been raised by the Bench during the course of hearing that whether before making an addition, the ....

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.... circumstances of the case as also the case laws referred hereinabove, we are of the conscientious view that the learned CIT (Appeals) has rightly reversed the findings of the Assessing Officer" 4. The aforesaid findings are arrived at by the Tribunal on the basis of relevant material before it. It is the finding of the Tribunal that some variation during few months in the electricity consum....