TMI Blog1984 (8) TMI 54X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee under s. 256(1) of the I.T. Act, 1961, for the opinion of this court regarding the question of law referred to by them, which is reproduced below: " Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the assessee failed to discharge the initial onus to prove the loss which lay on him when the assessee had produced the certi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0 and applied a gross profit rate at 7.5 per cent. Thus, the income was determined at Rs. 38,625. The income from the firm was worked out at Rs. 7,356. Thus, the total income was computed at Rs. 45,680. The AAC, after considering the contention of the assessee and the evidence on record, estimated the income of the assessee at Rs. 28,000 as against Rs. 38,625 determined by the ITO and gave reli ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nspector, Excise, Kannod, dated August 1, 1981 (Annexure " D "), according to which it is clearly mentioned that in the year 1975-76, the petitioner who had taken country liquor contracts for different shops in different places had incurred a profit of Rs. 678.28 and a loss of 9,902.17. He, therefore, submitted that the respondents have not disputed the contents of this certificate by which the pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Revenue submitted that it was the duty of the petitioner to substantiate the loss said to have been incurred by him by producing the necessary account books. This submission of the learned counsel for the respondent is correct and if the respondent was not satisfied with the certificate produced by the petitioner, they could certainly ask him to produce additional evidence. In these circum ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... " That, on the facts and in the circumstances of the case, the Tribunal was not justified in law in holding that the assessee failed to discharge the initial onus to prove the loss which lay on him when the assessee had produced the certificate of the excise authorities which supported the assessee's claim for loss. " The reference is answered accordingly with no order as to costs. - - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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