Mere non availability of stock register not sufficient to reject trading results

ACIT Vs Rakesh Global Steel P. Ltd. (ITAT Delhi) It is seen from the material on record that the assessee has been consistently following the trading pattern and its trading results have been accepted by the A.O in prior and subsequent periods. Mere non availability of stock register cannot be sufficient to reject trading results when the audited final accounts and other sources including the VAT data are available to cross verify the trading results including the sales verification. It is not the case of the Revenue that the A.O has not doubted the bonafide of the purchases or sale, nor there...