https://www.taxtmi.com/caselaws?id=442750 The ITAT allowed the appeal of the assessee, ruling that there was no basis to impute profits on the alleged sale of expired stock. The ITAT held that the expired stock, even if not accounted for in the opening stock, would not impact the profitability declared by the assessee. Therefore, the addition made by the AO was directed to be deleted. en-us Mon, 10 Jul 2023 00:00:00 +0530 Sat, 09 Sep 2023 09:37:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442750 The ITAT allowed the appeal of the assessee, ruling that there was no basis to impute profits on the alleged sale of expired stock. The ITAT held that the expired stock, even if not accounted for in the opening stock, would not impact the profitability declared by the assessee. Therefore, the addition made by the AO was directed to be deleted. Case-Laws Income Tax Mon, 10 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442750