1999 (10) TMI 20

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....e opinion of this court under section 256 of the Income-tax Act, 1961 : "Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was justified in holding that the amount of Rs. 44,777 on account of the difference between the enhanced price and old price of fertilisers in stock on May 31, 1974, and sold during the previous year could not be treated as the assessee's inco....

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....on before the High Court of Allahabad and on being unsuccessful before the High Court of Allahabad, before the Supreme Court. The High Court of Allahabad as well as the Supreme Court in their interim orders while permitting the dealers to charge enhanced prices on the sales of fertilisers in stock on May 31, 1974, directed that the difference between the increased prices and the old prices should ....

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....ment order. The assessee was aggrieved by the assessment order and, therefore, went up in appeal before the Appellate Assistant Commissioner. The Appellate Assistant Commissioner, however, agreeing with the Income-tax Officer, refused to interfere and dismissed the assessee's appeal. The assessee was not satisfied with the order of the Appellate Assistant Commissioner and, therefore, came up in ....