Tax on Unaccounted Scrap Sales: Income Tax Tribunal Ruling

Taxability of unaccounted sale of scrap under the Income Tax Act

Quick Summary

This Income Tax Appellate Tribunal ruling addresses the taxability of unaccounted sales of scrap. The Tribunal dismissed appeals by the revenue concerning assessment years 2002-03 and 2003-04. The decision clarifies that assessments in these cases were completed, not abated, meaning any additions by the revenue must be based on evidence found during search actions.

Court :
ITAT Delhi

Brief :
The present appeals have been fi led by the revenue against the orders of ld. CIT(A)-III, Delhi dated 15.09.2011 and 05.10.2011.

Citation :
ITA No. 5866/Del/2011 : Asstt. Year : 2002-03

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1 Year PLAN

1999

(Excl. of GST ₹359)

2 Years PLAN

3499

(Excl. of GST ₹629)

BEST VALUE

3 Years PLAN

4999

(Excl. of GST ₹899)

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Attached File : 1442821_4410_1630584868_5312__5866_accurate_meters_ltd_.pdf

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Judgement posted by

Poojitha Raam Vinay

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I simplify complex income tax, TDS, banking, and investment updates into practical insights for taxpayers, salaried professionals, pensioners, and senior citizens. I regularly write on ITR filing, tax compliance, savings schemes, and the latest financial rule changes in India.

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