1976 (9) TMI 64

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....n dealing in kirana goods for the last few years. The assessee started maintenance of account books from 1st Jan, 1965 when it introduce a cash entry of Rs. 30,000. The Income-tax Officer asked the assessee to explain this amount. The explanation furnished by the assessee was that it had been doing business of cycle parts and money leading at Ahmedabad and later at Baitaplur for the last more than....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....savings during the past several years keeping in view the nature of the business carried on by the assessee. It does not appear from the record that the assessee was ever a very flourishing businessman or something more than a petty dealer in cycle parts or kirana material. If at all, the estimate is on the liberal side and there is no substance in this appeal. This appeal is, therefore, dismissed....