1954 (10) TMI 4

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..... MEHR CHAND MAHAJAN, C. J.----This appeal concerns the same assessee as Appeal No. 217 of 1953 and relates to the assessment of its profits for the years 1945-46 and 1946-47, the account years being 1943-44 and 1944-45. The facts and circumstances relating to these assessments are the same as have been stated in our judgment in Appeal No. 217 of 1953, and it is unnecessary to re-state them here. Th .....

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..... 6,830 and in 1945, ₹ 8,77,800. The Income-tax Officer estimated these figures at ₹ 31,73,830 and ₹ 33,32,800 by estimating the rate of profit at 33 1/3 per cent. on sales, whereas the appellant has shown a gross profit at the rate of 20 per cent. and 19 per cent. respectively. On appeal, the Appellate Assistant Commissioner confirmed this order. On further appeal to the Tribunal, .....

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..... f opinion that the additions made during these two years be reduced to ₹ 14,00,000 in 1945-46 and ₹ 14,10,000 in 1946-47. This would reduce the gross profits to about 28 per cent. on enhanced sales during both these years." No separate arguments were addressed by the learned counsel for either side in this appeal, and for the reasons given by us in our judgment in Appeal No. 217 .....

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