1979 (2) TMI 136

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..... g, stacking, dumping etc. of coal for which he has to employ labour and pay wages at the rates prescribed by the Coal Mines Authority. The dispute relates to estimate of net profit on the total receipts. In the three asst. yrs. under appeal, the assessee had declared income of Rs. 20,000, Rs. 24,000and Rs. 25,000 on receipts of Rs. 4,83,600, Rs. 5,91,500 and Rs. 5,99,040. This worked out to 4.13 p .....

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..... om Coal Mines Authority Ltd., indicates that percentage of net profit ranged between 2.94 per cent to 5.37 per cent. of the receipts. Keeping in view the above material, we think that a net profit rate of 5 per cent on the total receipts would be proper in the case of the assessee. The net profit be estimated at this rate and the resultant relief may be given to the assessee. 3. The appeals are .....

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