1996 (5) TMI 5

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....M. Bhatia Associates, Chittorgarh, for the assessment year 1988-89, showed the gross income of Rs. 1,19,460, against which it claimed expenses like the salary to the supervisor, conveyance expenses, stationery charges, overtime payments made to the supervisory staff, depreciation, etc., and declared the net income at Rs. 69,525. No books of account were maintained by the assessee. The case of t....

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....essee, aggrieved by order passed by the Commissioner of Income-tax (Appeals), Jodhpur, preferred an appeal before the Income-tax Appellate Tribunal, Jaipur Bench, Jaipur. The Tribunal allowed the appeal filed by the assessee. While allowing the appeal, the Tribunal held that from the record produced by the assessee, the case of the assessee stands fully proved. The Tribunal further observed that t....

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....s justified and, therefore, directed the assessing authority to allow the same to the assessee. Dissatisfied with the order dated April 30, 1993, passed by the Income-tax Appellate Tribunal, Jaipur Bench, Jaipur, the Revenue moved an application under section 256(1) of the Income-tax Act, 1961, to refer the questions of low mentioned in the application for the opinion of the High Court. The Tri....

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....The Tribunal while allowing the appeal, appreciated the evidence available on record in the case of the assessee and after appreciation of the evidence on record the Tribunal held that the income-tax authorities were not justified to apply the net profit rate of six per cent. and 10 per cent. and were also not justified in disallowing the expenses claimed by the assessee. The order has been passed....