1982 (9) TMI 119

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....1977-78, for which the previous year ended31st December 1976. As in the past in the year under consideration the assessee earned an income from the preparation and sale of sweet-meats and snacks. 2. For the year the assessee returned a net profit of Rs. 21,497 on a turnover of Rs. 1,11,337. The ITO for the reasons stated in the assessment order rejected the book results. He then went on to esti....