1982 (6) TMI 87

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... s of the assessee and he found that the assessee during the year under appeal received Rs. 1,73,815 from Gujarat State Government Electricity Board in the name of his proprietary concern M/s Chemical & Steel Construction & Co. as the Indian Agent of M/s Babcock & Wilcox Co., U.S.A. The above amount was deposited in the Park Street Branch of the State Bank of India. The assessee claimed monthly exp .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ny evidence regarding the same. One could have understood if the assessee had been able to produce even a rough account together with the supporting vouchers-the total absence of any accounts or vouchers leads one to conclude that there were no such expenses specially as the assessee had kept proper details of another business carried on by him. Shri Mandal has referred to the fact that there was .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... assessee stated that the order passed by the ITO was neither erroneous nor prejudicial to the interests of the revenue and hence, the order of the CIT should be satisfied. Shri Ajit Sengupta, the Standing Counsel, on the other hand, stated that the ITO allowed 90% of the expenses without verifying the claim of the assessee. The expenses should only be allowed if they had been incurred and more so .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X