M/S Bhoday Steel Rolling Mills, Mandi ... vs Income Tax Officer, W-1, Mandi ... on 5 July, 2021
8. I have heard the submissions and perused the material on
record. In the facts of the present, it is seen that to the returned
income of the assessee of Rs. 4,98,332/-, addition of Rs.
9,75,098/- was made on account of undisclosed production and
investment in stock arrived at on the basis of variation in
electricity consumption and calculations as considered in various
identical cases. It is seen that similar issues have been
considered by the ITA T in its latest order dated 11.11.2020 in I TA
ITA 248/CHD/2019
A.Y. 2011-12
Page 6 of 14
818 & 879/C HD/2019 in the case of M/s K ripalu Strips V s ITO
(supra). It is seen that before the Co-ordinate Bench in similar
set of facts and circumstances following ground No. 2 had been
raised by the assessee :