9911796707
TMI Blog1985 (11) TMI 85X X X X Extracts X X X X X X X X Extracts X X X X ..... 648-chandi/84, to the High Court: "Whether on the facts and in the circumstances of the case, the Tribunal was right in law in confirming the order of the AAC allowing inclusion of anticipated profits for assessment on release orders and import licences in the absence of actual sale of goods and against any recognised system of accounting?" Inasmuch as, in our opinion, the above said questi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rt licence was the same as during the year under consideration. Therefore, for the reason given by the AAC in his order, i.e., on the basis of consistency of accounting method adopted by the assessee year after year. the Tribunal confirmed the finding of the AAC. 4. At the time of hearing of this reference application, the ld. Senior Departmental Representative Mr. R. K. Bali was exclaimed to s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of accounting method adopted by the assessee, ordered the deletion of the same and he placed on record copy of directions under s. 144B issued by the IAC. Strangely enough, the addition proposed by the ITO on the basis of consistency of accounting method was ordered to be deleted by the then IAC, who subsequently became CIT and strangely enough, for the reasons best known to him, he preferred a q ..... X X X X Extracts X X X X X X X X Extracts X X X X
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