https://www.taxtmi.com/caselaws?id=776357 Variation in stock found during survey led to an addition based on a gross profit rate of 35.13% on the stock shortage. Considering the assessee's reported gross profit rate of 28.34% for the year and the average rate of about 26% from the preceding four years, the appropriate rate for recomputation was fixed at 30%. The addition was therefore not sustained at 35.13% and was directed to be recomputed at 30%, granting partial relief. en-us Wed, 06 Aug 2025 00:00:00 +0530 Fri, 08 Aug 2025 05:20:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776357 Variation in stock found during survey led to an addition based on a gross profit rate of 35.13% on the stock shortage. Considering the assessee's reported gross profit rate of 28.34% for the year and the average rate of about 26% from the preceding four years, the appropriate rate for recomputation was fixed at 30%. The addition was therefore not sustained at 35.13% and was directed to be recomputed at 30%, granting partial relief. Case-Laws Income Tax Wed, 06 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776357