mentioned in the clause is the
matrix appearing in the earlier part of the clause, which is as
under:
Clause 2. Volume of Work
Minimum ... average production per month, not total
production, only average production. It is this averaging of
production that the contract refers to as average productivity
mentioned in the clause is the
matrix appearing in the earlier part of the clause, which is as
under:
Clause 2. Volume of Work
Minimum ... average production per month, not total
production, only average production. It is this averaging of
production that the contract refers to as average productivity
Matrix Laboratories Limited, ... vs Assessee on 25 May, 2012
IN THE INCOME TAX APPELLATE TRIBUNAL
Rules to provide the method of computation of aggregate average advances
for the purposes of clause (viia) of sub-section (1) of Section ... time, which is reproduced hereunder:
"[Computation of aggregate average advances for the purposes of clause (viia) of
sub-section (1) of section 36 .
6ABA
Value at Risk :Rs.803269.15
Average Clause Nil
21.0 ASSESSMENT OF LOSS:
Gross Dead Stock & Salvage Value Average Net Loss
Loss Slow Moving
along with plant and machinery. The application of average clause on
CC1772/2018 Page 23 of 27
the ground of overvaluation of policy ... reducing the assessment of claim
amount by applying average clause, is misplaced and erroneous. The
Surveyor could have only validly deducted the amount
along with plant and machinery. The application of average clause on
CC1772/2018 Page 23 of 27
the ground of overvaluation of policy ... reducing the assessment of claim
amount by applying average clause, is misplaced and erroneous. The
Surveyor could have only validly deducted the amount
Value at Risk :Rs.803269.15
Average Clause Nil
21.0 ASSESSMENT OF LOSS:
Gross Dead Stock & Salvage Value Average Net Loss
Loss Slow Moving
lakh hence, factory
building is not adequately Insured and average clause will be applicable.
Stock - As stated earlier, the total value of the Stock ... lakh hence, stock is also highly under Insured and average clause
will be applicable.
......
As per our physical inspection and discussion held with the Insured
average and assessed the stock to
the tune of Rs. 52,53,198/- which is contrary to the basic principle of
insurance. The average clause
