https://www.taxtmi.com/caselaws?id=273209 Trading addition based on an estimated gross profit rate after rejection of books of account was found unjustified because the assessee's declared gross profit rate for the year was higher than in the preceding year. The comparable cases used to support the higher estimate were not truly comparable, as they involved lower turnover and newer units. The basis adopted by the first appellate authority to sustain the addition was therefore unsupported on the facts. The trading addition was deleted, and the issue was decided in favour of the assessee. en-us Tue, 16 Sep 2014 00:00:00 +0530 Mon, 11 Jun 2018 21:42:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273209 Trading addition based on an estimated gross profit rate after rejection of books of account was found unjustified because the assessee's declared gross profit rate for the year was higher than in the preceding year. The comparable cases used to support the higher estimate were not truly comparable, as they involved lower turnover and newer units. The basis adopted by the first appellate authority to sustain the addition was therefore unsupported on the facts. The trading addition was deleted, and the issue was decided in favour of the assessee. Case-Laws Income Tax Tue, 16 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273209