https://www.taxtmi.com/caselaws?id=177342 The case involved the challenge by a Hindu Undivided Family (HUF) trading in coffee seeds against the addition of undisclosed income by the CIT(Appeals) due to discrepancies in accounting during a survey. The Assessing Officer treated the differences as suppressed profit, which was upheld by the CIT(Appeals). The ITAT remanded the case for reevaluation, emphasizing the need to exclude gross profit from sales for accurate income calculation. The appellant's appeal was allowed for statistical purposes, with the case sent back to the CIT(Appeals) for a fair review considering the gross profit element in sales for precise income determination. en-us Wed, 26 Dec 2012 00:00:00 +0530 Thu, 07 Jan 2016 14:49:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177342 The case involved the challenge by a Hindu Undivided Family (HUF) trading in coffee seeds against the addition of undisclosed income by the CIT(Appeals) due to discrepancies in accounting during a survey. The Assessing Officer treated the differences as suppressed profit, which was upheld by the CIT(Appeals). The ITAT remanded the case for reevaluation, emphasizing the need to exclude gross profit from sales for accurate income calculation. The appellant's appeal was allowed for statistical purposes, with the case sent back to the CIT(Appeals) for a fair review considering the gross profit element in sales for precise income determination. Case-Laws Income Tax Wed, 26 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177342