1954 (10) TMI 4

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....EHR CHAND MAHAJAN, C. J.----This appeal concerns the same assessee as Appeal No. 217 of 1953 and relates to the assessment of its profits for the years 1945-46 and 1946-47, the account years being 1943-44 and 1944-45. The facts and circumstances relating to these assessments are the same as have been stated in our judgment in Appeal No. 217 of 1953, and it is unnecessary to re-state them here. The....

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....,830 and in 1945, ₹ 8,77,800. The Income-tax Officer estimated these figures at ₹ 31,73,830 and ₹ 33,32,800 by estimating the rate of profit at 33 1/3 per cent. on sales, whereas the appellant has shown a gross profit at the rate of 20 per cent. and 19 per cent. respectively. On appeal, the Appellate Assistant Commissioner confirmed this order. On further appeal to the Tribunal, ....