https://www.taxtmi.com/caselaws?id=772536 ITAT upheld the CIT(A)'s pruning of the AO's trading GP addition (AO's estimate reduced from Rs.21.92 crore to Rs.10.98 crore) and dismissed the assessee's appeal as the assessee failed to produce evidence; even after addition the assessee remained in loss. Separately, ITAT held the AO's wholesale rejection of books of account improper because doubts related only to trading, not manufacturing, and consequently disallowed estimation of gross profit for the entire accounts, deciding that aspect in favour of the assessee. en-us Fri, 06 Jun 2025 00:00:00 +0530 Mon, 10 Nov 2025 10:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772536 ITAT upheld the CIT(A)'s pruning of the AO's trading GP addition (AO's estimate reduced from Rs.21.92 crore to Rs.10.98 crore) and dismissed the assessee's appeal as the assessee failed to produce evidence; even after addition the assessee remained in loss. Separately, ITAT held the AO's wholesale rejection of books of account improper because doubts related only to trading, not manufacturing, and consequently disallowed estimation of gross profit for the entire accounts, deciding that aspect in favour of the assessee. Case-Laws Income Tax Fri, 06 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772536