https://www.taxtmi.com/caselaws?id=62386 Stock valuation made during search by sampling and estimation, without physical weighment, was held unreliable where the assessee maintained regular books of account and stock records and no defects were shown in those records. The Tribunal found that, for iron and steel stock, actual weighment was the proper method and that an inventory based on approximation could not justify rejection of the books or an estimated stock difference. The resulting addition was therefore not sustainable, and the stock disclosed in the regular books was accepted. en-us Thu, 14 Mar 2002 00:00:00 +0530 Wed, 19 Jan 2011 16:25:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62386 Stock valuation made during search by sampling and estimation, without physical weighment, was held unreliable where the assessee maintained regular books of account and stock records and no defects were shown in those records. The Tribunal found that, for iron and steel stock, actual weighment was the proper method and that an inventory based on approximation could not justify rejection of the books or an estimated stock difference. The resulting addition was therefore not sustainable, and the stock disclosed in the regular books was accepted. Case-Laws Income Tax Thu, 14 Mar 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62386