1994 (10) TMI 56

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..... d not have interfered with the estimate of income made by the Commissioner (Appeals), we feel that in the facts and circumstances of this case no reference is called for. The assessing authority estimated the income of the assessee at Rs. 3,000 per day, for 300 working days in the year. On appeal, the number of working days was reduced to 270 and the receipt per day to Rs. 2,800. The Tribunal in s .....

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..... d came to the conclusion that it will be reasonable to limit the receipt per day of the assessee during the year in question to Rs. 1,500. A perusal of the order of the Tribunal shows that adequate reasons have been stated therein as to why the reduction of the receipt per day to Rs. 1,500 was justified. It is not as if the Tribunal had acted on surmises. It has acted on cogent material availabl .....

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