https://www.taxtmi.com/caselaws?id=187230 The Assessing Officer made trading additions to the assessee's income based on discrepancies in quantity of purchases and sales, leading to a higher Gross Profit rate. The CIT(A) deleted the trading addition, emphasizing the lack of basis for the high GP rate applied and the difficulty in maintaining detailed stock records in the retail business. The Tribunal upheld the CIT(A)'s decision, noting the consistency in trading results over subsequent years and dismissing the Department's appeal. Similar decisions were made in another assessee's case, resulting in the dismissal of all Revenue appeals. en-us Mon, 31 May 2004 00:00:00 +0530 Fri, 14 Oct 2016 14:33:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187230 The Assessing Officer made trading additions to the assessee's income based on discrepancies in quantity of purchases and sales, leading to a higher Gross Profit rate. The CIT(A) deleted the trading addition, emphasizing the lack of basis for the high GP rate applied and the difficulty in maintaining detailed stock records in the retail business. The Tribunal upheld the CIT(A)'s decision, noting the consistency in trading results over subsequent years and dismissing the Department's appeal. Similar decisions were made in another assessee's case, resulting in the dismissal of all Revenue appeals. Case-Laws Income Tax Mon, 31 May 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187230