https://www.taxtmi.com/caselaws?id=25702 The High Court affirmed the Tribunal's decision in a tax case involving the application of net profit rates on passenger and luggage receipts. The Court held that the Tribunal was justified in not applying a net profit rate to luggage receipts and in determining that claimed expenses against luggage receipts were adequately covered by expenses allowed against passenger receipts. The Court found that no separate deduction for luggage expenses was necessary as the assessee did not incur significant additional expenses for earning luggage receipts. The assessee was directed to pay costs, including counsel's fees. en-us Mon, 25 Nov 1985 00:00:00 +0530 Sat, 30 Jan 2010 12:41:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25702 The High Court affirmed the Tribunal's decision in a tax case involving the application of net profit rates on passenger and luggage receipts. The Court held that the Tribunal was justified in not applying a net profit rate to luggage receipts and in determining that claimed expenses against luggage receipts were adequately covered by expenses allowed against passenger receipts. The Court found that no separate deduction for luggage expenses was necessary as the assessee did not incur significant additional expenses for earning luggage receipts. The assessee was directed to pay costs, including counsel's fees. Case-Laws Income Tax Mon, 25 Nov 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25702