https://www.taxtmi.com/caselaws?id=198141 The court ruled in favor of the assessee, allowing the appeal against the trading addition based on unverified purchases and wages. The court clarified that this decision would not set a precedent for future assessments, emphasizing the need for independent consideration in subsequent years. The application of Section 145(3) was upheld due to doubts regarding purchases and wages, with the Tribunal stressing the importance of verifying claimed wages and reasons for the decline in the G.P. rate. en-us Mon, 29 May 2017 00:00:00 +0530 Tue, 23 Jan 2018 22:48:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198141 The court ruled in favor of the assessee, allowing the appeal against the trading addition based on unverified purchases and wages. The court clarified that this decision would not set a precedent for future assessments, emphasizing the need for independent consideration in subsequent years. The application of Section 145(3) was upheld due to doubts regarding purchases and wages, with the Tribunal stressing the importance of verifying claimed wages and reasons for the decline in the G.P. rate. Case-Laws Income Tax Mon, 29 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198141