1991 (5) TMI 24

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.... 1984-85, the following question has been referred to this court : " Whether, on the facts and in the circumstances of the case and on a correct interpretation of the provisions of section 43B of the Income-tax Act, 1961, the Appellate Tribunal was correct in law in modifying the order of the Commissioner of Income-tax passed under section 263 of the Income-tax Act, 1961, and in directing the Inc....

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....m the customers. Sales tax realised by the traders from its customers forms part of the sales turnover. The assessee had shown sales turnover of Rs. 4,75,51,840. Obviously the sales turnover stated above did not include realisation towards the sales tax from the customers. Therefore, the three sums of Rs. 21,818, Rs. 61,443 and Rs. 2,06,640 should be added to the sales turnover for finding out the....

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....red an appeal to the Tribunal. The Tribunal, following the decision of the Andhra Pradesh High Court in the case of Srikakollu Subba Rao and Co. v. Union of India [1988] 173 ITR 708, modified the direction of the Commissioner of Incometax to make a fresh assessment, following the decision of the Supreme Court in the case of Kedarnath Jute Mfg. Co. Ltd. v. CIT [1971] 82 ITR 363 and the decision of....