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2011 (7) TMI 590 - HC - Income TaxBest Judgement Assessment- Addition made to G.P. Rate- Held that :-Mere non-maintenance of 'Stock Records' by assessee was not a valid ground for rejection of the book results. However, non-maintenance of 'stock records' was coupled with non-verifiability of 'opening stock' and 'closing stock' and such discrepancies in the book results of the assessee could not be accepted. Hence addition made to G.P. Rate is justified. Decided against the assessee.
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