9911796707
TMI Blog1984 (8) TMI 54X X X X Extracts X X X X X X X X Extracts X X X X ..... ore Bench, Indore, has made this reference at the instance of the assessee under s. 256(1) of the I.T. Act, 1961, for the opinion of this court regarding the question of law referred to by them, which is reproduced below: " Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the assessee failed to discharge the initial onus to prove the l ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion of the assessee. The ITO estimated sales at Rs. 5,15,000 and applied a gross profit rate at 7.5 per cent. Thus, the income was determined at Rs. 38,625. The income from the firm was worked out at Rs. 7,356. Thus, the total income was computed at Rs. 45,680. The AAC, after considering the contention of the assessee and the evidence on record, estimated the income of the assessee at Rs. 28,00 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of which he had filed the certificate issued by the Sub-inspector, Excise, Kannod, dated August 1, 1981 (Annexure " D "), according to which it is clearly mentioned that in the year 1975-76, the petitioner who had taken country liquor contracts for different shops in different places had incurred a profit of Rs. 678.28 and a loss of 9,902.17. He, therefore, submitted that the respondents have not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e assessee. On the other hand, the learned counsel for the Revenue submitted that it was the duty of the petitioner to substantiate the loss said to have been incurred by him by producing the necessary account books. This submission of the learned counsel for the respondent is correct and if the respondent was not satisfied with the certificate produced by the petitioner, they could certainly as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e. Our answer, therefore, to the said question is: " That, on the facts and in the circumstances of the case, the Tribunal was not justified in law in holding that the assessee failed to discharge the initial onus to prove the loss which lay on him when the assessee had produced the certificate of the excise authorities which supported the assessee's claim for loss. " The reference is answer ..... X X X X Extracts X X X X X X X X Extracts X X X X
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