https://www.taxtmi.com/caselaws?id=67640 The Tribunal held that the Assessing Officer's addition of Rs. 12,789 for trading profit was unjustified as the transfer of closing stock was genuine and there was no evidence to support the 3% profit charge. The Tribunal emphasized taxing real income, not hypothetical income, and directed the AO to delete the addition. Regarding the disallowance issue, the Tribunal upheld the Rs. 1,000 disallowance out of a total of Rs. 3,000, while directing the deletion of the Rs. 12,789 trading addition. en-us Tue, 25 Jan 2000 00:00:00 +0530 Sat, 12 Mar 2011 11:00:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67640 The Tribunal held that the Assessing Officer's addition of Rs. 12,789 for trading profit was unjustified as the transfer of closing stock was genuine and there was no evidence to support the 3% profit charge. The Tribunal emphasized taxing real income, not hypothetical income, and directed the AO to delete the addition. Regarding the disallowance issue, the Tribunal upheld the Rs. 1,000 disallowance out of a total of Rs. 3,000, while directing the deletion of the Rs. 12,789 trading addition. Case-Laws Income Tax Tue, 25 Jan 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67640