https://www.taxtmi.com/caselaws?id=103296 The tribunal partially allowed the appeal, ruling in favor of the appellant on various issues. The trading addition was deleted due to lack of defects justifying section 145, with historical gross profit rates considered reasonable. The disallowance of shop and telephone expenses was dismissed as the appellant did not press the issue. The addition for shortage of stock was deleted, with only the gross profit element added, considering explainable source of investment. The interest charge under sections 234A, 234B, and 234C was deemed invalid due to lack of specific directions in the assessment order, resulting in partial allowance of the appeal. en-us Mon, 29 Jul 2002 00:00:00 +0530 Wed, 22 Feb 2012 11:44:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103296 The tribunal partially allowed the appeal, ruling in favor of the appellant on various issues. The trading addition was deleted due to lack of defects justifying section 145, with historical gross profit rates considered reasonable. The disallowance of shop and telephone expenses was dismissed as the appellant did not press the issue. The addition for shortage of stock was deleted, with only the gross profit element added, considering explainable source of investment. The interest charge under sections 234A, 234B, and 234C was deemed invalid due to lack of specific directions in the assessment order, resulting in partial allowance of the appeal. Case-Laws Income Tax Mon, 29 Jul 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103296