https://www.taxtmi.com/caselaws?id=66996 Estimated trading additions based on retail and wholesale sales estimates require specific defects in the books, identified false entries, adverse material, comparable cases, or another proved basis for disturbing disclosed gross profit. Where gross profit is consistent with prior years and no such evidence exists, the addition is unsustainable. Expenditure on tea, pan and similar items provided to employees or business constituents is not automatically entertainment expenditure; its character depends on the facts. On these facts, both the trading addition and the entertainment-expense disallowance were deleted. en-us Mon, 13 Nov 1978 00:00:00 +0530 Tue, 08 Mar 2011 16:43:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66996 Estimated trading additions based on retail and wholesale sales estimates require specific defects in the books, identified false entries, adverse material, comparable cases, or another proved basis for disturbing disclosed gross profit. Where gross profit is consistent with prior years and no such evidence exists, the addition is unsustainable. Expenditure on tea, pan and similar items provided to employees or business constituents is not automatically entertainment expenditure; its character depends on the facts. On these facts, both the trading addition and the entertainment-expense disallowance were deleted. Case-Laws Income Tax Mon, 13 Nov 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66996