TMI Blog1980 (6) TMI 53X X X X Extracts X X X X X X X X Extracts X X X X ..... ome business in Head Office and another in Branch. The result shown in the Head Office was accepted by the ITO but in respect of the business in Branch, the ITO found that the assessee had disclosed a profit of 9.1 per cent on receipts of Rs. 8,78,774. It was explained before the ITO that the lower profit in this year was due to the losses suffered by the assessee due to heavy floods in this year. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... profit of 9 per cent in the business affected by floods and the case of the assessee was that his over all profit has gone down as a result of losses suffered in a part of business. It was, therefore, contended that no addition was called for in the special circumstances explained by the assessee. The Deptl. Rep. has relied on the order of the AAC. 4. We have considered the facts of the case a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by delivery. The assessee was the owner of the Jeep and the insurance was also paid in the name of the assessee. The consideration for the purchase had also been paid by the assessee. It was, therefore, contended that the claim should not be denied merely because the registration under the Motor Vehicles Act had taken some time. 6. We have considered the facts of the case and we are of the vi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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