1987 (7) TMI 151

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....d confirmed by the AAC. The assessee is a commission agent in fruits. The assessment year involved is 1976-77. The return was to be filed on 31st of July, 1976 whereas it was actually filed on 28th Feb., 1977. The assessee had sought extension of time in form 6 as their books of accounts were not complete. In the said application, the time was sought up to 30th Nov., 1976. The ITO had rejected the....

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....receipt had been shown in a sum of Rs. 1,21,711. He submitted that difference in trial balance of a concern of this type was natural and the assessee's request for explanation was rejected without reason. The learned DR on the other hand, relied on the order of the two lower authorities. 2. After taking into consideration the rival submissions and looking to the facts, we are unable to sustain t....