https://www.taxtmi.com/caselaws?id=71740 A trading addition cannot be sustained where purchases are recorded in the regular contemporary commercial record, no specific defect is found in that record, and the declared results show improved gross profit and higher turnover with no comparable instance produced by the revenue. On those facts, the addition for alleged unverifiable purchases was deleted. A separate addition for income from undisclosed sources was also deleted because the accepted quantity of goods and the sales already recorded meant that any further purchase-price adjustment would only create a notional inflation of profits and an offsetting unexplained investment, producing no real net addition. en-us Fri, 16 Apr 1982 00:00:00 +0530 Tue, 26 Apr 2011 17:58:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71740 A trading addition cannot be sustained where purchases are recorded in the regular contemporary commercial record, no specific defect is found in that record, and the declared results show improved gross profit and higher turnover with no comparable instance produced by the revenue. On those facts, the addition for alleged unverifiable purchases was deleted. A separate addition for income from undisclosed sources was also deleted because the accepted quantity of goods and the sales already recorded meant that any further purchase-price adjustment would only create a notional inflation of profits and an offsetting unexplained investment, producing no real net addition. Case-Laws Income Tax Fri, 16 Apr 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71740