https://www.taxtmi.com/caselaws?id=63765 The Tribunal held that the income of the assessee, engaged in the sale of country liquor, should be computed under sections 28 to 43C of the IT Act based on a High Court decision. The Tribunal found the High Court decision to be binding and directed the Assessing Officer to calculate the income using the regular books of accounts. The orders of the lower authorities were set aside, and the matter was remanded for a fresh assessment, granting the assessee a fair opportunity to present their case. As a result, both appeals were allowed for statistical purposes. en-us Mon, 08 May 1995 00:00:00 +0530 Tue, 01 Feb 2011 16:58:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63765 The Tribunal held that the income of the assessee, engaged in the sale of country liquor, should be computed under sections 28 to 43C of the IT Act based on a High Court decision. The Tribunal found the High Court decision to be binding and directed the Assessing Officer to calculate the income using the regular books of accounts. The orders of the lower authorities were set aside, and the matter was remanded for a fresh assessment, granting the assessee a fair opportunity to present their case. As a result, both appeals were allowed for statistical purposes. Case-Laws Income Tax Mon, 08 May 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63765