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of <h1>Partnership Firm's Profit Rate Dispute Resolved: Court Upholds 6% Over 2%</h1> <h3>Motiram Pesumal Versus Commissioner Of Income-Tax, Bhopal</h3> Motiram Pesumal Versus Commissioner Of Income-Tax, Bhopal - [1984] 149 ITR 786 The High Court of Madhya Pradesh upheld the Income-tax Appellate Tribunal's decision to apply a gross profit rate of 6% on the sales of a partnership firm dealing in potatoes and onions, despite a government direction to charge 2%. The Tribunal considered the firm's historical profits exceeding 2% and ruled in favor of the 6% rate. The court's answer to the referred question was affirmative, and each party will bear their own costs. (Case citation: 1983 (8) TMI 41 - Madhya Pradesh High Court)
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