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<h1>Assessee wins appeal on liquor sales tax rate dispute.</h1> The tribunal allowed the assessee's appeal, overturning the CIT(A)'s decision to apply a 2% net rate on liquor sales instead of the 3% rate initially ... - The assessee appealed against the CIT(A)'s application of a 2% net rate on liquor sales. The ITO initially applied a 3% rate, reducing the loss shown by the assessee. The CIT(A) further reduced the rate to 2%. The tribunal ruled in favor of the assessee, noting the high license fee paid, lack of discrepancy in accounts, and absence of comparable cases to justify the profit rate adjustment. The appeal was allowed.
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