https://www.taxtmi.com/caselaws?id=2802 The Supreme Court overturned lower authorities' decisions and classified the appellant as a Commission Agent instead of a Trader for income tax assessment purposes. The Court emphasized fair treatment and consistent classification based on the nature of the appellant's business activities, quashing the 'Trader' classification and reinstating the Commissioner of Income Tax (Appeals) decision. The Court also rejected the adverse inference drawn due to non-appearance of traders, highlighting the importance of past assessments and business nature. The Court exercised discretionary jurisdiction under Article 136, emphasizing the need for proper evaluation and fair classification. en-us Tue, 22 Jan 2008 00:00:00 +0530 Fri, 12 Jul 2013 11:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2802 The Supreme Court overturned lower authorities' decisions and classified the appellant as a Commission Agent instead of a Trader for income tax assessment purposes. The Court emphasized fair treatment and consistent classification based on the nature of the appellant's business activities, quashing the 'Trader' classification and reinstating the Commissioner of Income Tax (Appeals) decision. The Court also rejected the adverse inference drawn due to non-appearance of traders, highlighting the importance of past assessments and business nature. The Court exercised discretionary jurisdiction under Article 136, emphasizing the need for proper evaluation and fair classification. Case-Laws Income Tax Tue, 22 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2802