https://www.taxtmi.com/caselaws?id=16738 The Income-tax Appellate Tribunal ruled in favor of the assessee-firm, allowing claimed expenses and rejecting the application of specific net profit rates by income-tax authorities for the assessment year 1988-89. The Tribunal's decision was based on factual evidence provided by the assessee, including commission receipts and wage payment records. When the Revenue sought to refer questions of law to the High Court, the Tribunal and subsequently the High Court declined, emphasizing the factual nature of the findings and the absence of legal issues. The High Court dismissed the Revenue's application under section 256(2) of the Income-tax Act due to the lack of referable legal questions. en-us Tue, 07 May 1996 00:00:00 +0530 Wed, 09 Sep 2009 17:17:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16738 The Income-tax Appellate Tribunal ruled in favor of the assessee-firm, allowing claimed expenses and rejecting the application of specific net profit rates by income-tax authorities for the assessment year 1988-89. The Tribunal's decision was based on factual evidence provided by the assessee, including commission receipts and wage payment records. When the Revenue sought to refer questions of law to the High Court, the Tribunal and subsequently the High Court declined, emphasizing the factual nature of the findings and the absence of legal issues. The High Court dismissed the Revenue's application under section 256(2) of the Income-tax Act due to the lack of referable legal questions. Case-Laws Income Tax Tue, 07 May 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16738