1976 (12) TMI 36

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... a liquor contractor for Mandi Dabwali, for the year ending March 31, 1966, returned an income of Rs. 282 for the assessment year 1966-67. The Income-tax Officer rejected the books produced by the assessee and estimated the sales at Rs. 11,50,000 (as against Rs. 10,78,858 shown in the books) and estimated the profit at 7 1/2 per cent. of the total estimated sales. This came to Rs. 87,750. The appea .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ount the comparable cases of other assessees for the current year or the assessee's own assessments of earlier years, if the assessee was carrying on the same business in those years. But, he said, the revenue was not justified in taking into account the case of a different assessee for an earlier year. He submitted that because of Indo-Pakistan war in September, 1965, the assessee's sales had gon .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 's order it does not appear that there was any particular slump after September, 1965, though there appears to be some slump in September, 1965, only. In fact it was in December, 1965, that there were peak sales of the assessee. It is also revealed from the order of the Appellate Assistant Commissioner that the sales of the contractor for the year 1964-65 amounted to Rs. 4,70,000 only. Therefore, .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X