1982 (4) TMI 158 - AT - Income Tax

Summary

The assessee deals in purchase and sale of disposal goods. Gross profit disclosed was 18% (down from 40% in previous year). Addition of Rs. 25,000 upheld by ITAT Jabalpur. Addition of Rs. 14,126 in commission account confirmed. Disallowance of Rs. 2,000 trading expenses upheld. Appeal partly allowed.