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Issues involved: The judgment deals with appeals related to common questions of law and facts for assessment years 1991-92 and 1992-93 involving two sister concerns engaged in the manufacture and sale of bricks.
Assessment Year 1991-92: - The appellant argued that no incriminating documents were seized for this year, and the estimation of production was based on a document relevant for the next year. - The Tribunal found in favor of the appellant, stating that evidence for the next year cannot be used to estimate income for the current year. - The Department's estimation of unaccounted production for the entire year was deemed arbitrary and devoid of merit, as uniform production cannot be assumed in this business. - The Department's innovation regarding transportation and unaccounted investment lacked evidence and was not supported, leading to acceptance of the appellant's plea. Assessment Year 1992-93: - Similar issues as in 1991-92 were raised and decided in favor of the appellants, highlighting the unreasonable estimations by the Department without proper evidence. - The Tribunal emphasized the need for fair consideration of all facts and absence of prejudice in reaching conclusions, rejecting the Department's approach as untenable in law. Conclusion: - The appeals were partly accepted, with the Tribunal ruling in favor of the appellants due to lack of concrete evidence supporting the Department's estimations and innovations, emphasizing the need for a fair and evidence-based approach in tax assessments.
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