Survey Team Mistakenly Multiplies Bundle Weights instead of Accurate Weighing Leading to Quantity Mismatch: ITAT deletes ₹1.3 Crore Addition [Read Order]

The CIT(A) found the survey team's method flawed and accepted the assessee’s weight-based valuation
By Sneha Sukumaran Mullakkal - On September 4, 2024 5:48 pm - 2 mins read
ITAT - ITAT Delhi - Survey Team - Income Tax Appellate Tribunal - Taxscan

The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) upheld the Commissioner Of Income Tax (Appeals) [CIT(A)]’s deletion of a Rs.1,36,08,090 addition, finding that the survey team had incorrectly used standard weights instead of accurate measurements. The tribunal confirmed that the revenue did not challenge the CIT(A)’s findings supported by excise records. Rathi…

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