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1954 (10) TMI 4 - SC - Income Tax
The Supreme Court allowed the appeal regarding the assessment of profits for the years 1945-46 and 1946-47, remanding the case to the Tribunal with similar directions as in a previous judgment. The Income-tax Officer's additions to the profits were reduced to Rs. 14,00,000 in 1945-46 and Rs. 14,10,000 in 1946-47. The gross profit rates were adjusted to about 28% on enhanced sales for both years.
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