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TMI Blog1995 (7) TMI 408X X X X Extracts X X X X X X X X Extracts X X X X ..... Tribunal, Allahabad Bench-II, Allahabad in Second Appeal No. 221 of 1993 (assessment year 1987-88) whereby the assessment proceedings have been remanded to the assessing authority for a fresh decision after inspection of the site. I have heard Mr. Bharatji Agrawal, learned counsel for the assessee as well as Mr. R.D. Gupta, learned Standing Counsel for the respondent and perused the impugned ju ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... years. The floods had caused damage in the rains of the year 1987. The plywood is such a commodity as it gets quickly damaged by coming into contact with the water and in the closed godown the damage becomes still quicker. If the assessing authority had acted promptly, it could of course make a local inspection immediately after the rains were over or even at the close of the financial year. It c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e can arrange his financial matters accordingly. Judicial decisions in cases of businessmen must be rendered quickly so that the businessman can know the correct position and act accordingly. A businessman should not be kept on tenterhooks in the matter as has been done in this case, otherwise the time and skill which he would apply for developing his business will have to be diverted to looking a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... flood in the year 1987 and seepage of water of adjoining nala and the consequential damage to the plywood and alike goods kept in the godown situated on the Balua Ghat near Jamuna river in Allahabad. The floods and the seepage of the nala water are the facts which are not disputed. The assessee got the benefit in the assessment of income-tax from the income-tax authorities. He also got compensat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n the basis of the material available on record. For the aforesaid reason this revision is hereby allowed and the impugned judgment and order dated May 25, 1995 recorded by the Trade Tax Tribunal, Bench-II, Allahabad in Second Appeal No. 221 of 1993 (assessment year 1987-88) is hereby set aside and the Tribunal is hereby directed to record a fresh decision after hearing on the basis of the avail ..... X X X X Extracts X X X X X X X X Extracts X X X X
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