https://www.taxtmi.com/caselaws?id=219235 The Tribunal partially allowed the Assessee's appeal, upholding the trading addition under section 145(3) and the disallowance under section 36(1)(iii) while directing the deletion of the disallowance of discount expenses. The Tribunal emphasized the importance of maintaining stock records for accurate profit determination and rejected the argument of commercial expediency regarding the interest-free loan given to the Assessee's grandson. The disallowance of discount expenses was deleted due to lack of basis and reasoning provided by the CIT(A). en-us Fri, 01 Jun 2012 00:00:00 +0530 Sun, 09 Dec 2012 16:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219235 The Tribunal partially allowed the Assessee's appeal, upholding the trading addition under section 145(3) and the disallowance under section 36(1)(iii) while directing the deletion of the disallowance of discount expenses. The Tribunal emphasized the importance of maintaining stock records for accurate profit determination and rejected the argument of commercial expediency regarding the interest-free loan given to the Assessee's grandson. The disallowance of discount expenses was deleted due to lack of basis and reasoning provided by the CIT(A). Case-Laws Income Tax Fri, 01 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219235