https://www.taxtmi.com/caselaws?id=260081 Survey proceedings under section 133A and the stock inventory prepared during survey were upheld because the stock-taking was conducted at the business premises with assistance from the assessee's representatives, supported by contemporaneous records, and no material infirmity or fabrication was shown. Rejection of books under section 145(3) and the trading addition were sustained because material discrepancies existed between physical stock, the stock register and computer-generated figures, and no satisfactory reconciliation was furnished; the gross profit rate of the preceding year was applied to estimate income. The assessment was also held valid because notice under section 143(2) was issued and dispatched, and the assessee participated in the proceedings. en-us Wed, 27 May 2015 00:00:00 +0530 Mon, 01 Jun 2015 17:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260081 Survey proceedings under section 133A and the stock inventory prepared during survey were upheld because the stock-taking was conducted at the business premises with assistance from the assessee's representatives, supported by contemporaneous records, and no material infirmity or fabrication was shown. Rejection of books under section 145(3) and the trading addition were sustained because material discrepancies existed between physical stock, the stock register and computer-generated figures, and no satisfactory reconciliation was furnished; the gross profit rate of the preceding year was applied to estimate income. The assessment was also held valid because notice under section 143(2) was issued and dispatched, and the assessee participated in the proceedings. Case-Laws Income Tax Wed, 27 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260081