MANU/SC/0083/1968

IN THE SUPREME COURT OF INDIA

Decided On: 01.08.1968

Appellants: Commissioner of Income-tax, Uttar Pradesh
Vs.
Respondent: Devi Prasad Vishwanath Prasad

JUDGMENT

Shah, J.

1. The respondent is a firm dealing in handloom cloth and silk fabrics and has its head office at Banaras and a branch office at Madura. In proceedings for assessment for the assessment year 1946-47 the Income-tax Officer declined to rely upon the books of account of the assessee, and estimated the business profits of the assessee by applying a flat rate of 12 1/2% to the turnover of the business. The Income-tax Officer also found in the books of

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