1986 (12) TMI 87

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....lternative plea is that in any case the delay in filing the return was of 29 complete months and not of 30 months and, therefore, the interest should be reduced. (ii) The assessee, a partnership concern, deals in cloth on wholesale basis. In respect of assessment year under appeal for which the accounting year was7th July, 1978to25th June, 1979the sales amounted to Rs. 32,98,944 whereas for the immediately preceding year i.e. 1979-80 assessment year, these were less. For that year provision of Rs. 9,902.40 for brokerage @ 1 per cent of the total sales effected, was made out of which payments stated to have had been made were of Rs. 7,63.42, carry forwarding credit of Rs. 2,254.98 in that account. In the accounting year under appeal at th....

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.... 6. We have closely perused the details given before the lower authorities which were submitted before us also and are not inclined to interfere with the disallowance. The reason being simple that the assessee though provided for brokerage was not in a position to fix the provision vis-a-vis, specified brokers. We shall be setting a very wrong precedent if we are to accept the assessee's contention that even when payments were not made in respect of all the sales (it could not be the case because sometimes brokerage paid was more than 1 per cent) the provision made in relation to all sales should be allowed. The authorities below have been very fair to allow brokerage actually paid in the respective years of payments and it is not even agi....