Law: Income Tax Act, 1922

Section: 13,13A

Income-tax Act (XI of 1922)----Ss. 13 & 13-A---Rejection of accounts ---Assessee, a cotton yarn manufacturer had maintained accounts properly and in the similar manner as in the past which were accepted---Absence of day to day stage-wise consumption and production record and the unexplained excessive wastage of cotton lint itself could not authorise the department to consider them as sufficient defects to make additions of the value of yarn which could be produced from such unexplained wastage. 1989 PTD 567 fol. JUDGMENT NASIR ASLAM ZAHID, J.---In this reference application the following questions have been referred for our opinion by the Income-tax Tribunal:- (1) Whether the Appellate Tribunal was justified to invoke proviso to section 13 of the repealed Income-tax Act to the case of the applicant? (2) Whether on the facts and in the circumstances of the case the absence of day to day stage-wise consumption and production record and…

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