https://www.taxtmi.com/caselaws?id=67634 The Tribunal partially allowed the appeal, directing the matter back to the AO for correct profit determination. It emphasized the need for accurate income assessment based on seized material, highlighting discrepancies in stock and sales calculations. The Tribunal stressed the importance of providing the assessee with an opportunity for further explanation, ensuring a fair assessment process and avoiding repetitive additions in subsequent years. en-us Tue, 11 May 1999 00:00:00 +0530 Sat, 12 Mar 2011 10:47:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67634 The Tribunal partially allowed the appeal, directing the matter back to the AO for correct profit determination. It emphasized the need for accurate income assessment based on seized material, highlighting discrepancies in stock and sales calculations. The Tribunal stressed the importance of providing the assessee with an opportunity for further explanation, ensuring a fair assessment process and avoiding repetitive additions in subsequent years. Case-Laws Income Tax Tue, 11 May 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67634