- (1.) The instant Income Tax Appeal under Section 260-A is directed against the order of the Income Tax Appellate Tribunal, Jaipur Bench, Jaipur (for short the ITAT) dated 31.12.2008 and relates to the Assessment Year 1997-98.
(2.) The brief facts as emerging on the face of record are that the appellant-assessee is an Association of Persons (AOP) and is carrying on the business of Indian Made Country Liquor (IMCL) under Rule 67(1) and 67(K-K) of the Rajasthan Excise Rules, 1956 and retail sale of Beer and Indian Made Foreign Liquor (IMFL) under Rule 3A of the Rajasthan Foreign Liquor (Grant of Wholesale and Retail-off sale Licences) Rules, 1982 under exclusive privilege system. The assessee was awarded contract for Khandar group of shops in the district of Sawai Madhopur and was required to lift following quantity of liquor equal to the following contracted amount:- JUDGEMENT_360_LAWS(RAJ)1_2014.htm
(3.) The assessee filed return of income declaring an income of Rs.90,722/- and produced in pursuance of notice under Section 143(2), books of accounts, consisting of cash book, ledger, daily sales register, salary register, purchase bills, vouchers for expenses before the Assessing Officer.;