TMI Blog1996 (10) TMI 45X X X X Extracts X X X X X X X X Extracts X X X X ..... tax (Appeals) and dismissing the appeal filed by the Revenue in spite of the fact that there was no control over the sale price and the sales were not verifiable and the estimate of sales at 2 1/2 times of the licence money and the application of net profit rate at 9 per cent. was based on the finding of the Income-tax Appellate Tribunal in the case of Sri Madan Mohan Prasad v. ITO in I. T. A. No. 2281 (All)/1976-77 for the assessment year 1973-74 vide order dated April 27, 1978 ? (2) Whether the Income-tax Appellate Tribunal was justified in dismissing the appeal of the Revenue in spite of the fact that in the case of A. P. Singh v. Abdul Rehman and Brothers, the Income-tax Appellate Tribunal vide order dated September 17, 1991, in I. T. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tors where proviso to sub-section (1) of section 145 of the Act is invoked, the sales are generally estimated 2-3 times the licence money and net rate of profit is applied. The assessee went in appeal against the assessment order where the additions made to the returned income were deleted and the Income-tax Officer was directed to accept the book version. Against the appellate order, the Revenue preferred a second appeal before the Income-tax Appellate Tribunal, but without any success. Thereafter, the Revenue made an application under section 256(1) of the Act for reference of the aforesaid questions to this court, which was also rejected by the Income-tax Appellate Tribunal. Hence, this application seeking directions from this court as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s received. Thus, relying on the observations of the learned Inspecting Assistant Commissioner in his letter C. No. 9/144B of 1978-79, dated August 17, 1978, the assessment has been completed. " From the order passed in appeal by the Income-tax Appellate Tribunal there is no indication that the Revenue had sought reliance on the order to which reference was made in the assessment order. It is settled that the decision in a case is rendered on its own facts. It is the ratio decidendi that may be relied upon as a precedent in another case, but it must be shown that the decision relied upon applies to the facts obtaining in a given case. On the facts of the instant case, no such attempt was made and a mere reference to some earlier decision ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oss account of the assessee placed at para 9 of the paper book filed before us that the total expenses apart from the purchases amounted to Rs. 17,37,288 out of which the sum of Rs. 16,32,453, is in respect of lease money paid to the Government. The other expenses for the whole year remain only Rs. 1,05,035. The assessee was having 31 shops for sale of liquor. Looking to the number of shops, the expenses claimed seem most reasonable to us. Now turning to the salary expenses and shop rent it was specifically pointed out by the .... these expenses are claimed at Rs. 54,000 and Rs. 12,600, respectively. The details of salary paid personwise is filed by the assessee and placed at page 37 of the paper book. From this, we find that the salary is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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