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Deduction and computation of profits from the business of distribution of feature films under Rule 9B turned on whether computation could be made without maintained books of account. Rule 9B(5) was held mandatory, requiring that income be computed on the basis of the assessee's books, and the conditions in Rule 9B(5)(a)(i)-(iii) operate subject to the requirement of maintaining such books. Since the assessee admittedly failed to maintain books, the authority held that other evidences could only supplement, not substitute, the books for computation, and therefore rejected computation based on alternate material, deciding the issue in favour of the Revenue. - HC
Deduction and computation of profits from the business of distribution of feature films under Rule 9B turned on whether computation could be made without maintained books of account. Rule 9B(5) was held mandatory, requiring that income be computed on the basis of the assessee's books, and the conditions in Rule 9B(5)(a)(i)-(iii) operate subject to the requirement of maintaining such books. Since the assessee admittedly failed to maintain books, the authority held that other evidences could only supplement, not substitute, the books for computation, and therefore rejected computation based on alternate material, deciding the issue in favour of the Revenue. - HC
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