1982 (3) TMI 240

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....nd refer the following question for opinion of the Court: "Whether, on the facts and circumstances of the case, there is justification to hold that the daily sales turnover of the assessee should be determined at Rs. 480 as done by the Tribunal?" 2.. The assessee is a registered dealer carrying on confectionery business at Bhubaneswar. For the assessment period 1973-74, the assessee disclosed sa....

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....ar in question, expanded the business by investing almost double of the earlier investment. Amenities were increased and refrigerator was provided. The assessing officer, therefore, estimated that the return received by the assessee from the extra investment was also commensurate. The earlier daily figure of Rs. 220 was, therefore, enhanced to Rs. 440. Over and above this, there was a further addi....