1960 (2) TMI 63

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....ar for which ended on March 31, 1943. The second question relates to the year of account ending with March 31, 1944, the corresponding assessment year being 1944-45. On the findings of the Tribunal we can see no justification for the disallowance ordered by the Tribunal. The Income-tax Officer disallowed the claim as a whole in each year on the ground that no shortage had been proved. The Assista....

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....e garments short delivered, that is, garments lost by the assessee. The assessee maintained his accounts on the mercantile basis. Even if the loss had been spread over a number of years, till the loss was ascertained, there could be no possibility of his showing them in his accounts. The Tribunal apparently accepted the case of the assessee that it was only when the military authorities demanded t....

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....o the military authorities, that was virtual a proof that, as far as the assessee was concerned, these pieces themselves were lost. Hence the caption "lost garments" under which the claim for loss sustained in the course of the business was made. With reference to the assessment year 1943-44, the fact that some of the garments might have been lost in the previous years and even the fact....