1977 (10) TMI 51

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..... The only explanation of the assessee for both the years was that the accounts for the earlier year were not completed and till that was completed they could not take up the accounts for the subsequent year. In support of this explanation, it is pointed out that the return for the asst. yr. 1972-73 was filed only on 2nd April, 1974 and it is only after that date the assessee could take up the acc....