2022 (5) TMI 156

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....- made by Assessing Officer on account of Repair and Maintenance of Plant and Machinery on estimate basis." 3. Notice of hearing was issued on 07.07.2021 fixing the date of hearing on 09.08.2021. The postal authorities returned the notice unserved with the remark "left without address". So none attended on behalf of the assessee, though Sr. DR was present. Another notice was issued on 06.09.2021 fixing the date of hearing on 28.10.2021. That day also none attended for the assessee but Sr. DR attended. Last notice was sent on 22.02.2022 fixing the hearing on 04.04.2022. This notice has also been returned by the postal authorities with the remark "left without address". We are, therefore constraint to decide the appeal ex-parte after hearin....

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....ibunal in the case of Kiccha Sugar Co. Ltd. vide ITA No. 345/Del/9 dated 08.01.2010. 6. The Ld. CIT(A) gave part relief by restricting the addition to Rs. 14,91,445/- being 10% of the value of stores consumption of Rs. 1,49,24,424/- with the following observations:- "8. ...However, it is noted that the appellant is maintaining its account on mercantile basis. On this basis, valuation of inventory including scrap is mandatory in order to compute the correct profit under the head business. On similar facts, the Hon'ble ITAT, Delhi (supra) has held that the valuation of inventory is mandatory including bye-products [vide para 8 of the order (supra)]. Further on similar facts it has been held by the Ld. CIT(Appeals), Muzaffarnagar (supra) th....