1984 (12) TMI 77

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..... products in the Branch styled Vijai Agencies. Here he declared a profit of about 30 per cent on the sales of Rs. 30,282. The ITO observed in the assessment order that the cash memos had credit memos were produced before him which were test checked, that the purchases and sales were vouched and that no discrepancy was noticed in the stock register. He, however, made an addition of Rs. 4,000 in the .....

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..... the ld. counsel for the assessee that whatever might have been decided in the earlier years, the ITO himself had found that proper stock account was maintained and the purchase and sales were vouched. According to him, therefore, no addition could be made to the trading account. He admitted that the assessee had not maintained regular books of submitted before me by the ld. departmental represent .....

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