https://www.taxtmi.com/caselaws?id=67009 The assessee's declared trading results were accepted because its gross profit rate remained broadly consistent with earlier years, the books were comparable, and the explanation for variation in profit was found plausible in light of price fluctuations and increased competition. On that basis, there was no sufficient ground to disturb the trading account by enhancing the gross profit rate or to justify an estimated addition under section 145(1). The addition was therefore deleted in favour of the assessee. en-us Thu, 30 Jul 1981 00:00:00 +0530 Tue, 08 Mar 2011 17:18:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67009 The assessee's declared trading results were accepted because its gross profit rate remained broadly consistent with earlier years, the books were comparable, and the explanation for variation in profit was found plausible in light of price fluctuations and increased competition. On that basis, there was no sufficient ground to disturb the trading account by enhancing the gross profit rate or to justify an estimated addition under section 145(1). The addition was therefore deleted in favour of the assessee. Case-Laws Income Tax Thu, 30 Jul 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67009