https://www.taxtmi.com/caselaws?id=64256 Trading addition based on alleged excess stock found during a survey was found unsustainable where no unaccounted purchases, sales, or other incriminating material emerged to displace the book results. The Assessing Officer's approach of valuing stock by applying a gross profit rate to the survey stock list was treated as an erroneous method for estimating excess stock. On that basis, the addition lacked a proper evidentiary foundation and was deleted in favour of the assessee. en-us Fri, 08 Apr 1994 00:00:00 +0530 Sat, 05 Feb 2011 16:49:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64256 Trading addition based on alleged excess stock found during a survey was found unsustainable where no unaccounted purchases, sales, or other incriminating material emerged to displace the book results. The Assessing Officer's approach of valuing stock by applying a gross profit rate to the survey stock list was treated as an erroneous method for estimating excess stock. On that basis, the addition lacked a proper evidentiary foundation and was deleted in favour of the assessee. Case-Laws Income Tax Fri, 08 Apr 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64256