1936 (6) TMI 12 - HC - Income Tax

Summary

The Lahore High Court dismissed the application under Section 66(3) of the Indian Income-tax Act, compelling the Income-tax Commissioner to state the case of Badri Shah Sohan Lal, a bullion dealer. The court found material justifying the rejection of the trading account and adding Rs. 6,000 as additional profits due to low profit percentages and lack of supporting documentation. The application was dismissed.