TMI Blog1981 (7) TMI 46X X X X Extracts X X X X X X X X Extracts X X X X ..... before payment of taxes as per the profit and loss account was Rs. 1,06,62,415. The income returned by the assessee was Rs. 1,06,80,025. The income assessed by the ITO as per the assessment order appearing in the paper book was Rs. 1,08,05,310. The taxes that were paid by the assessee for the year were Rs. 73,32,054. The month-wise break-up appears to be as follows: ---------------------------- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - 3,41,38,681 73,32,054 ----------------------- ------------------------- In the background of these facts which will appear from the order of the ITO in the instant reference for the assessment year 1971-72, it appears to us that, in view of the principles enunciated by us in I.T. Ref. No. 438 of 1975 (Woolcombers India Ltd. v. CIT), judgment delivered on 12th February, 1981 (since report ..... X X X X Extracts X X X X X X X X Extracts X X X X
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