1982 (4) TMI 213

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..... to the trading account. 2. The assessee's accounts showed purchases of 66 sarees on 27th Oct., 1977 while the purchase bill from M/s. Central Dyeing and Painting indicated that the assessee had purchased only 22 sarees. In brief the ITO's contention is the assessee has not accounted for the purchase price of 44 sarees. The value of 44 sarees determined at Rs. 1,760 was added by the ITO as income .....

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..... Having regard to the past practice he added a sum of Rs. 5,000. The AAC reduced this to Rs. 3,500. 5. Before us it was submitted that the sales of the assessee had doubled in the previous year compared to the earlier previous year. The sales were at Rs. 17,26,168 as against Rs. 8,47,150 for the earlier year. The G.P. was 3.4 per cent as against 3.1 per cent in the earlier year. Having regards t .....

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