TMI Blog1945 (4) TMI 15X X X X Extracts X X X X X X X X Extracts X X X X ..... inst an order passed by the Commissioner of Income-tax, Central Provinces and United Provinces, on a combined application made to him under Section 33 and 66(2) of the Income-tax Act. 2. The points on which the assessee wishes us to require the Commissioner of Income-tax to state a case are three. The first is in respect of an addition made to the profits by the sale of petrol as shown by the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ere not kept and receipts were not issued-as to make it impossible to ascertain what the sales in actual fact were. In such circumstances the Income- tax Department is entitled to consider the surrounding circumstances from which, the income of the assessee can be deduced, and this has been done and is permissible. Indeed this point was not much pressed by the learned counsel for the assessee-appl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... count books whatever. The contention is that the property in these vehicles remained with the assessee and that what he received was purely hire for the vehicles and consequently it is machinery let on hire and that he is entitled to depreciation allowances on it. The contention is illogical. With the last instalment paid, if all that is received is hire, the result would be that the hirepurchaser ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of machinery let on hire . 5. The last point urged is that the sum of ₹ 756/- should have been allowed as a bad debt. Normally one would expect that a vehicle of which repossession was taken on account of default in the payment of instalments on a hire-purchase agreement would be more valuable than the total sum of instalments still remaining to be paid. Whether that is so or not cannot ..... X X X X Extracts X X X X X X X X Extracts X X X X
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