https://www.taxtmi.com/caselaws?id=28056 Income from coffee points was required to be assessed on the assessee's consistently adopted estimated valuation under the mercantile system, because the Department had accepted that method and no finding showed it to be unacceptable or the estimate unduly low. The subsequent declaration of the Coffee Board's final dividend before completion of assessment did not, by itself, justify replacing the estimate with the later dividend figure. Applying Section 7 read with Rule 9(c) of the Karnataka Agricultural Income-tax Rules, 1957, the assessment basis remained the assessee's estimate and the point was decided in the assessee's favour. en-us Tue, 07 Feb 1984 00:00:00 +0530 Wed, 17 Feb 2010 17:12:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28056 Income from coffee points was required to be assessed on the assessee's consistently adopted estimated valuation under the mercantile system, because the Department had accepted that method and no finding showed it to be unacceptable or the estimate unduly low. The subsequent declaration of the Coffee Board's final dividend before completion of assessment did not, by itself, justify replacing the estimate with the later dividend figure. Applying Section 7 read with Rule 9(c) of the Karnataka Agricultural Income-tax Rules, 1957, the assessment basis remained the assessee's estimate and the point was decided in the assessee's favour. Case-Laws Income Tax Tue, 07 Feb 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28056