https://www.taxtmi.com/caselaws?id=67016 Estimated trading addition based only on a low gross profit rate and absence of quantitative details was not sustainable where the record did not show that sales, purchases, or stock were unsupported or unverifiable. The Tribunal noted that mere dissatisfaction with declared gross profit did not, by itself, justify rejection of book results or invocation of the proviso to section 145(1) without a cogent finding that the trading account could not be accepted. The addition was deleted. en-us Fri, 18 Dec 1981 00:00:00 +0530 Tue, 08 Mar 2011 17:36:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67016 Estimated trading addition based only on a low gross profit rate and absence of quantitative details was not sustainable where the record did not show that sales, purchases, or stock were unsupported or unverifiable. The Tribunal noted that mere dissatisfaction with declared gross profit did not, by itself, justify rejection of book results or invocation of the proviso to section 145(1) without a cogent finding that the trading account could not be accepted. The addition was deleted. Case-Laws Income Tax Fri, 18 Dec 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67016