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1960 (2) TMI 63 - High Court Of Madras

1960 (2) TMI 63 - High Court Of Madras - [1961] 41 ITR 725 (MAD.) - CASE REFERRED NO. 55 OF 1955 - Dated:- 23-2-1960 - Rajagopalan And Ramachandra Iyer, JJ. JUDGMENT Rajagopalan, The first question relates to the assessment year 1943-44, the previous year 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 .....

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sis for disallowing any portion of the claim. With reference to the assessment year 1943-44 the Tribunal pointed out that even the assessee admitted that the loss in garments for which a claim was made was sustained not only in the year ending with March 31, 1943, but also in the previous years. But the Tribunal apparently also found that it was only in that year that there was a demand made by the military authorities to make good the value of the garments short delivered, that is, garments los .....

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position was that, though when precisely each garment or each set of garments was lost could not be fixed with precision, the loss was ascertained only in the year of account and it was only in the year of account that the assessee had to make good the value of the lost garments to the military authorities. It should be remembered that the material for making garments had been supplied by the military authorities at a price fixed by them, a price which was higher than the ordinary market value. .....

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