TMI Blog1985 (11) TMI 2X X X X Extracts X X X X X X X X Extracts X X X X ..... or answering the following questions of law, namely: "(i) Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was justified in not applying a net profit rate on both the passenger hire and luggage hire receipts, thereby deviating from the method of determining income adopted consistently in the case of the assessee in earlier years? (ii) Whether, on the facts and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the account books, found serious irregularities and he rejected them and made a best judgment assessment in accordance with section 145(2) of the Act. The Income-tax Officer estimated the passenger receipts at Rs. 1,50,000 and the luggage receipts at Rs. 98,332. The Income-tax Officer computed profit at the rate of 221/2% on the passenger receipts and did not allow any deduction on account of exp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ot in controversy at this stage and, therefore, the only question is whether the best judgment assessment actually made gave rise to the above questions of law on the facts found proved by the Tribunal. In our opinion, there is no ground for holding that the Tribunal's conclusion was unjustified. The learned counsel for the assessee strenuously urged that during the earlier years, passenger rece ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... led for and the deduction of Rs. 3,000 was given against the luggage receipts even then to cover any possible additional expenditure by way of coolie charges, if any, paid by the assessee to earn the luggage receipts. On these findings of fact, the conclusion reached by the Tribunal is fully justified and there is really no principle of law arising for application to reach the ultimate conclusion. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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