https://www.taxtmi.com/caselaws?id=38520 The High Court of Punjab and Haryana upheld the application of a 7 1/2 per cent profit rate on a liquor contractor's turnover for the assessment year 1966-67. The Court found that the revenue was justified in using a comparable case from the same area for an earlier year as the best available material, despite the petitioner's argument regarding the impact of the Indo-Pakistan war in 1965 on sales. The Court determined that the petitioner's sales were not significantly affected by the war based on sales figures, ultimately affirming the profit rate decision. en-us Tue, 07 Dec 1976 00:00:00 +0530 Wed, 07 Apr 2010 10:32:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38520 The High Court of Punjab and Haryana upheld the application of a 7 1/2 per cent profit rate on a liquor contractor's turnover for the assessment year 1966-67. The Court found that the revenue was justified in using a comparable case from the same area for an earlier year as the best available material, despite the petitioner's argument regarding the impact of the Indo-Pakistan war in 1965 on sales. The Court determined that the petitioner's sales were not significantly affected by the war based on sales figures, ultimately affirming the profit rate decision. Case-Laws Income Tax Tue, 07 Dec 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38520