SAVITRI RANI MALIK Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE Income-tax Appellate Tribunal at Gauhati, at the instance of the assessee (S. P. Malik), referred the following question for the opinion of this court :

(2.) THE assessee seeks an answer to the question separately for the assessment year 1970-71 and the assessment year 1971-72 on the facts of the respective years.

(3.) THE Income-tax Officer accepted the evidence of the-two persons and held that the assessee was guilty of concealment of income. He added 11% of the amounts as income of the assessee. On appeal by the assessee, the Appellate Assistant Commissioner observed that normally 12% should have been added as income but did not vary the order of the Income-tax Officer. THE finding that the assessee concealed the amount was confirmed. THE Income-tax Appellate Tribunal, on further appeal by the assessee, confirmed the findings and reduced the income as, in the business in perishable commodities, the margin of profits was five per cent.