1982 (2) TMI 97

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e assessee and so they are heard together and disposed of by this common order, for the sake of convenience. 2. The assessee is an individual deriving income from commission and interest. The assessment years involved in these appeals are 1975-76 and 1976-77. The assessee followed the year ended 31st March as his previous year. Formerly, the assessee was assessed to income-tax at Goa up to and including the assessment year 1972-73. It appears that no assessments were made for the assessment years 1973-74 and 1974-75, and that the assessee shifted his residence to Bombay. Returns of income were filed before the ITO, Bombay, on 22-3-1978 declaring income of Rs. 14,310 for the assessment year 1975-76 and Rs. 7,616 for the assessment year 19....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....tended that the action of the ITO and the IAC was not justified. It was explained that the assessee had no accounts and had left Goa and came to a new place. The assessment records from Goa was not before the ITO at the time he made out the draft assessment orders. Further, it was pointed out that the original profit and loss account was made in a hurry and was obviously incorrect because the cash in hand and banks shown at Rs. 8,667 in the original balance sheet for the year 1976-77 was less than the bank balance of Rs. 9,667 itself, as shown in the revised statement filed before the IAC. It was the case of the assessee that the original profit and loss accounts were not prepared with due care and attention and were incorrect and so the as....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... confirmatory letters which could be produced before the ITO for his scrutiny. Further, he stated that the assessments were drafted without looking to the past records of the assessee which had not yet reached the ITO from Goa. He pointed out that the IAC was not inclined to give further time to the assessee because the assessment was getting time-barred. Under the circumstances he urged that in the interest of justice, the order passed by the Commissioner (Appeals) deserved to be upheld. 7. We have considered the contentions of both the parties as well as the facts on record. We find force in the contentions raised for the assessee. We find that there is an apparent conflict between the two sets of profit and loss accounts---one filed b....