https://www.taxtmi.com/caselaws?id=388663 Rejection of books and separate additions for unaccounted sales and GP estimation were held unsustainable because the computation adopted inconsistent assumptions on cost and "seed capital" vis-à-vis the estimated profit rate, and the assessee had already voluntarily offered higher income on the same material, making further additions duplicative; the additions for unaccounted sales/related factors were deleted. Addition for low GP was rejected as the AO ignored multiple detailed submissions explaining the marginal 1.04% fall and gave no legally sustainable basis to disturb the disclosed GP; the GP addition was deleted. Additions for gold and silver "jangad" stock were disallowed since purchases and payments were evidenced in registers/invoices and confirmed in cross-enquiries, and the AO failed to verify or logically conclude enquiries; the jangad stock additions were deleted. en-us Thu, 05 Sep 2019 00:00:00 +0530 Tue, 30 Dec 2025 16:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388663 Rejection of books and separate additions for unaccounted sales and GP estimation were held unsustainable because the computation adopted inconsistent assumptions on cost and "seed capital" vis-à-vis the estimated profit rate, and the assessee had already voluntarily offered higher income on the same material, making further additions duplicative; the additions for unaccounted sales/related factors were deleted. Addition for low GP was rejected as the AO ignored multiple detailed submissions explaining the marginal 1.04% fall and gave no legally sustainable basis to disturb the disclosed GP; the GP addition was deleted. Additions for gold and silver "jangad" stock were disallowed since purchases and payments were evidenced in registers/invoices and confirmed in cross-enquiries, and the AO failed to verify or logically conclude enquiries; the jangad stock additions were deleted. Case-Laws Income Tax Thu, 05 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388663