1976 (2) TMI 59 - AT - Income Tax

Summary

The Appellate Tribunal ITAT DELHI-C allowed the appeal, stating that there was no justification for maintaining an addition of Rs. 12,905 to the trading account. The Tribunal found that the provisions of section 145 of the Act applied to the case, but there was no suppression of stock. The addition was deleted as the gross profit declared was reasonable. The appeal was allowed.