https://www.taxtmi.com/caselaws?id=7971 The High Court of Patna ruled in favor of the assessee-company, determining that the profit of Rs. 14,30,561 from jute transactions should not be included in its total income for the assessment year 1952-53. The Court found that the grounds provided by the Income-tax Appellate Tribunal for rejecting the claim were not sufficiently justified, especially considering the evidence presented by the assessee, such as the credit advice from D.C.P.M. Ltd. The Court emphasized that the absence of certain entries in the books of the assessee did not discredit the company's claim, leading to the exclusion of the profit from the total income. en-us Thu, 27 Jan 1966 00:00:00 +0530 Thu, 26 Mar 2009 13:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7971 The High Court of Patna ruled in favor of the assessee-company, determining that the profit of Rs. 14,30,561 from jute transactions should not be included in its total income for the assessment year 1952-53. The Court found that the grounds provided by the Income-tax Appellate Tribunal for rejecting the claim were not sufficiently justified, especially considering the evidence presented by the assessee, such as the credit advice from D.C.P.M. Ltd. The Court emphasized that the absence of certain entries in the books of the assessee did not discredit the company's claim, leading to the exclusion of the profit from the total income. Case-Laws Income Tax Thu, 27 Jan 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7971