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| The Tax Publishers2020 TaxPub(DT) 3392 (SC) : (2020) 273 TAXMAN 0088 INCOME TAX ACT, 1961
Section 261 Section 145
Where the assessee preferred SLP to appeal against the judgment of Bombay High Court in Paras Organics (P) Ltd. v. Addl. CIT (2019) 263 Taxman 44 (Bom.) : 2019 TaxPub(DT) 3283 (Bom-HC), whereby the High Court held that AO had carried out minute examination of the material on record and established that sale of finished product was below what the assessee ought to have produced and sold even ignoring the production loss and loss occurred during the chemical process, thus, the entire issue was purely factual in nature based on the evidence, the Supreme Court dismissed the SLP as withdrawn.
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Appeal (Supreme Court) - Special leave petition - Accounting method - Rejection of accounts -- Suppression of production
Assessee preferred SLP to appeal against the judgment of Bombay High Court in Paras Organics (P) Ltd. v. Addl. CIT (2019) 263 Taxman 44 (Bom.) : 2019 TaxPub(DT) 3283 (Bom-HC), whereby the High Court held that AO had carried out minute examination of the material on record and established that sale of finished product was below what the assessee ought to have produced and sold even ignoring the production loss and loss occurred during the chemical process, thus, the entire issue was purely factual in nature based on the evidence. Held: Counsel for the petitioner prayed for and was granted permission to withdraw the petition to enable the petitioner to take benefit of the Government Scheme. Accordingly, the petition was dismissed as withdrawn with the aforesaid liberty.
REFERRED :
FAVOUR : SLP dismissed as withdrawn.
A.Y. :
IN THE SUPREME COURT OF INDIA
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