Second Income-Tax Officer vs G.N. Agrawal (Huf) on 12 November, 1992
In support of his contention, he relied on various decisions, viz., CIT vs. Mercantile Construction Co. (1994) 74 Taxman 41 (Cal), Empire Industries Ltd. & Anr. vs. Union of India & Ors. (1986) 162 ITR 846 (SC), CIT vs. Singareni Collieries Co. (1997) 90 Taxman 185 (AP), CIT vs. Best Chem & Limestone Industries (P) Ltd. (1994) 210 ITR 883 (Raj), ITO vs. G. N. Agrawal (HUF) (1993) 44 ITD 332 (Pn), Aditya Minerals (P) Ltd. vs. ITO (1988) 26 ITD 221 (Hyd).