https://www.taxtmi.com/caselaws?id=359687 The Tribunal allowed the appeal of the assessee, directing the deletion of the addition of Rs. 4,20,62,550/- as unaccounted income. It found that the sales were made from a substantial opening stock accepted in previous years, and the AO's inquiry did not conclusively disprove the existence of the trading business. The Tribunal held that the sales could not be treated as unexplained income, as the stock details were consistent with past records. en-us Fri, 27 Apr 2018 00:00:00 +0530 Thu, 03 May 2018 06:36:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359687 The Tribunal allowed the appeal of the assessee, directing the deletion of the addition of Rs. 4,20,62,550/- as unaccounted income. It found that the sales were made from a substantial opening stock accepted in previous years, and the AO's inquiry did not conclusively disprove the existence of the trading business. The Tribunal held that the sales could not be treated as unexplained income, as the stock details were consistent with past records. Case-Laws Income Tax Fri, 27 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359687