https://www.taxtmi.com/caselaws?id=68865 An estimated addition based on alleged defects in stock accounts and sale bills was found unsustainable where the only defects were imperfect stock maintenance and incomplete addresses in some bills, and the gross profit was not disputed. The exemption issue turned on cattle-feed notifications dated 4 March 1974 and 23 March 1974: the later notification was not retrospective, the word "namely" was treated as illustrative in context, and trade understanding of the goods mattered. Exemption was allowed for qualifying cattle-feed turnovers up to 22 March 1974 and for cottonseed husk, tapioca flour dust and cottonseed hull bran thereafter, but cottonseed oil cake remained taxable after 23 March 1974. en-us Wed, 03 Mar 1976 00:00:00 +0530 Sat, 02 Apr 2011 11:32:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68865 An estimated addition based on alleged defects in stock accounts and sale bills was found unsustainable where the only defects were imperfect stock maintenance and incomplete addresses in some bills, and the gross profit was not disputed. The exemption issue turned on cattle-feed notifications dated 4 March 1974 and 23 March 1974: the later notification was not retrospective, the word "namely" was treated as illustrative in context, and trade understanding of the goods mattered. Exemption was allowed for qualifying cattle-feed turnovers up to 22 March 1974 and for cottonseed husk, tapioca flour dust and cottonseed hull bran thereafter, but cottonseed oil cake remained taxable after 23 March 1974. Case-Laws Income Tax Wed, 03 Mar 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68865