https://www.taxtmi.com/caselaws?id=361396 An estimated gross profit addition cannot be sustained without rejecting the books of account or identifying specific defects, and it was deleted where purchases, sales, stock register, VAT returns and turnover were undisputed. Jewellery-related addition was also unsustainable because the items had been released during search on the basis of an invoice, and no credible discrepancy or fabrication was proved. Alleged interest-payment addition failed as the seized material and reconciliation were explained by records and banking transactions, with no effective rebuttal. The appellate deletion of all additions was upheld. en-us Mon, 04 Jun 2018 00:00:00 +0530 Wed, 06 Jun 2018 19:24:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361396 An estimated gross profit addition cannot be sustained without rejecting the books of account or identifying specific defects, and it was deleted where purchases, sales, stock register, VAT returns and turnover were undisputed. Jewellery-related addition was also unsustainable because the items had been released during search on the basis of an invoice, and no credible discrepancy or fabrication was proved. Alleged interest-payment addition failed as the seized material and reconciliation were explained by records and banking transactions, with no effective rebuttal. The appellate deletion of all additions was upheld. Case-Laws Income Tax Mon, 04 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361396