TaxTMI 
TaxTMI 
1995 (1) TMI 123
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....to have filed the return of income on or before 30th June, 1981 but the same was filed on 9th Sept., 1983. For the asst. yr. 1983-84, the return of income was due to be furnished on or before 30th June, 1983, but the same was filed on 5th May, 1985. The assessee's explanation was that the account books of another firm called "M/s Adam & Joseph" were impounded by the Sales-tax authorities and there....
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....as been filed stating that the records of another firm with which the assessee had dealings had been either sized or impounded by the sales-tax authorities and the auditor of the assessee firm was insisting upon the production of such records for him to finalise the accounts and as a result, delay had occurred which was beyond the control of the assessee. The learned Advocate also reiterated befor....
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....from the books of another firm. The assessee need not depend upon the books of another firm for its transactions with the other firm if the transactions had been recorded as and when they took place and such recording was made true to the nature of the transaction. Such being the case one wonders why the assessee should wait for the scrutiny of the books of accounts of another firm before finalisi....
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....ed or impounded by the sales-tax authorities, the assessee need not have waited for so long to finalise its accounts. If interested, it could have arranged for taking of the copies of its account with the other firm. No effort has been made by the assessee in this direction. Further the assessee can rely on its own account for the transactions with the other firm instead of looking upon the accoun....