https://www.taxtmi.com/caselaws?id=19653 The court dismissed both petitions under section 256(2) of the Income-tax Act, 1961, affirming the Income-tax Appellate Tribunal's decision. The primary issue was the determination of the average sale price of arrack by the abkari contractor, with the Tribunal making an estimate and adding Rs. 5 lakhs to the income returned. The court found no legal questions warranting reference, supporting the Tribunal's decision based on factual evidence and lack of material for the Rs. 25 per litre rate. The judgment emphasized the Tribunal's thorough analysis and factual findings, ultimately upholding the Tribunal's decision. en-us Mon, 26 Sep 1994 00:00:00 +0530 Sat, 07 Nov 2009 16:34:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19653 The court dismissed both petitions under section 256(2) of the Income-tax Act, 1961, affirming the Income-tax Appellate Tribunal's decision. The primary issue was the determination of the average sale price of arrack by the abkari contractor, with the Tribunal making an estimate and adding Rs. 5 lakhs to the income returned. The court found no legal questions warranting reference, supporting the Tribunal's decision based on factual evidence and lack of material for the Rs. 25 per litre rate. The judgment emphasized the Tribunal's thorough analysis and factual findings, ultimately upholding the Tribunal's decision. Case-Laws Income Tax Mon, 26 Sep 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19653