https://www.taxtmi.com/caselaws?id=70560 Vouched purchases and properly billed sales supported the accounts, so the absence of a day-to-day stock register in a business dealing in numerous electrical goods was not, by itself, treated as a serious defect warranting an addition to turnover. Low gross profit alone was also found insufficient to justify rejection of the accounts or an inference of suppressed sales, particularly where the business circumstances and closure in the following year did not support a comparative profit-based addition. The addition was therefore deleted in favour of the assessee. en-us Thu, 21 Feb 1980 00:00:00 +0530 Mon, 18 Apr 2011 10:01:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70560 Vouched purchases and properly billed sales supported the accounts, so the absence of a day-to-day stock register in a business dealing in numerous electrical goods was not, by itself, treated as a serious defect warranting an addition to turnover. Low gross profit alone was also found insufficient to justify rejection of the accounts or an inference of suppressed sales, particularly where the business circumstances and closure in the following year did not support a comparative profit-based addition. The addition was therefore deleted in favour of the assessee. Case-Laws Income Tax Thu, 21 Feb 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70560