Bombay H.C : There is no material to hold that the difference between the duty assessed by the Customs Department under s. 30(b) of the Sea Customs Act and the contract price shown by the assessee in the contract resulted in any additional income liable to income-tax to the assessee in the face of the finding of ‘proven underinvoicing’ by the assessee, given by the Supreme Court
High Court Of Bombay : Nagpur Bench CIT vs. Central Provinces Manganese Ore Co. Ltd. Section 256(2) Asst. Year 1953-54 […]