COMMISSIONER OF INCOME TAX Vs. GIRDHARI LAL

JUDGEMENT

(1.) ON an application filed under Section 256(1) of the Income-tax Act, 1961, the Tribunal has referred the following question for the opinion of this court:

(2.) THE assessee derives income from the business of contract and construction of roads and bridges. THE assessment years involved are 1976-77 to 1981-82. THE assessments were completed under Section 143(3) read with Section 148. THEreafter a notice under Section 263 of the Act was issued by the Commissioner of Income-tax on December 24, 1982, to revise the assessment orders made by the Assessing Officer. For revising the assessment order, the Commissioner of Income-tax was of the view that:

(3.) WHEN the Assessing Officer after going through the material on record and after considering the explanation of the assessee, made some additions and rejected the books of account, it cannot be said that he has not applied his mind. In our view, it is not always necessary that every assessee in the line of business should have the same rate of profit.