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TMI Blog1986 (12) TMI 87X X X X Extracts X X X X X X X X Extracts X X X X ..... ete months and not of 30 months and, therefore, the interest should be reduced. (ii) The assessee, a partnership concern, deals in cloth on wholesale basis. In respect of assessment year under appeal for which the accounting year was7th July, 1978to25th June, 1979the sales amounted to Rs. 32,98,944 whereas for the immediately preceding year i.e. 1979-80 assessment year, these were less. For that year provision of Rs. 9,902.40 for brokerage @ 1 per cent of the total sales effected, was made out of which payments stated to have had been made were of Rs. 7,63.42, carry forwarding credit of Rs. 2,254.98 in that account. In the accounting year under appeal at the same rate further provision of Rs. 32,989.44 for bokerage was made whereas paymen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... submitted before us also and are not inclined to interfere with the disallowance. The reason being simple that the assessee though provided for brokerage was not in a position to fix the provision vis-a-vis, specified brokers. We shall be setting a very wrong precedent if we are to accept the assessee's contention that even when payments were not made in respect of all the sales (it could not be the case because sometimes brokerage paid was more than 1 per cent) the provision made in relation to all sales should be allowed. The authorities below have been very fair to allow brokerage actually paid in the respective years of payments and it is not even agitated that such pattern has been departed in future assessments. Besides, if in a given ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ontention in this appeal is that ITO erred in charging interest for the month of Dec. 1982 also. It was submitted that the return of income was filed on31st Dec., 1982and as such the month of Dec. 1982 was not a complete month and therefore ITO was not justified in charging interest for the month of December. I do not find any substance in the contention of the learned counsel for the appellant. In view of the judgment of Hon'ble Allahabad High Court in the case of CIT vs. Laxmiratan Cotton Mills reported in 97 ITR page 285 the complete month means a period of 30 days counted from the date of default. In the month of December 1982 there was a delay of 30 days and hence interest u/s 139 (8) of the Act was rightly charged by the ITO." 8. In ..... X X X X Extracts X X X X X X X X Extracts X X X X
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