https://www.taxtmi.com/caselaws?id=435755 The Tribunal sustained the addition on undisclosed stock at 12% and partly allowed the grounds raised by the appellant regarding estimation and confirmation of higher G.P. on unaccounted sales. The impugned addition made by the ld. CIT(A) on excess stock was set aside as the Tribunal decided to sustain the addition at 12% of the undisclosed stock amount. The expenses incurred for freight charges were not disallowable under section 40(a)(ia) as compliance with section 194C(6) negates disallowance, leading to the deletion of the addition claimed towards freight charges. en-us Thu, 16 Mar 2023 00:00:00 +0530 Sat, 25 Mar 2023 10:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435755 The Tribunal sustained the addition on undisclosed stock at 12% and partly allowed the grounds raised by the appellant regarding estimation and confirmation of higher G.P. on unaccounted sales. The impugned addition made by the ld. CIT(A) on excess stock was set aside as the Tribunal decided to sustain the addition at 12% of the undisclosed stock amount. The expenses incurred for freight charges were not disallowable under section 40(a)(ia) as compliance with section 194C(6) negates disallowance, leading to the deletion of the addition claimed towards freight charges. Case-Laws Income Tax Thu, 16 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435755