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2017 (11) TMI 1470 - AT - Income TaxRejection of books of accounts - non maintenance of day to day Stock Register - trading addition - Held that:- It is a factual aspect that the assessee was not maintaining day to day stock register, therefore, it was not possible to verify the closing stock vis a vis quantity of purchase and sale of sugar. Therefore, sustain the rejection of books of account. The ld. CIT(A) records that the G.P. declared by the assessee was .46% while it was .64% in comparison to .71% of preceding year. Therefore, the addition sustained by the ld. CIT(A) is higher side. In view of this fact, sustain the addition only of ₹ 50,000/- - Decided in favour of assessee partly. Addition treating the agricultural income declared by the appellant as being income from undisclosed sources - Held that:- The assessee was not able to submit necessary documents in support of the contention that the assessee was having agricultural income of ₹ 22,900/- during the year under consideration. Therefore, in absence of any supporting document, sustain the order of the ld. CIT(A) on this issue.- Decided against assessee.
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