9911796707
TMI Blog1999 (10) TMI 47X X X X Extracts X X X X X X X X Extracts X X X X ..... e Income tax Appellate Tribunal, Cochin Bench (in short "the Tribunal") : At the instance of the Revenue : "1. Whether, on the facts and in the circumstances of the case, the Tribunal is right in law and fact, and whether it had any material in holding that the margin of 50 per cent. can be allowed for the delay in receipt of the sale pattials from the consignee and the balance alone need be taken for the purpose of computing the income ? 2. Whether, on the facts and in the circumstances of the case the after having found that the pattials were prepared in a whimsical manner as and when chosen by the consignee and that it appeared to have been got up at a stretch, whether the Tribunal was justified in fixing the margin at 50 per cent ?" ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ------------------------------------------------------------------------------------------- Name of consignee Quantity Gross amount of sales Exps. to be allowed as per sale pattials therefrom -------------------------------------------------------- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed and taking into account the factual position, 50 per cent. of the sales was to be considered for the concerned assessment year. Accordingly, direction was given to take into account the correct figure. Both the Revenue and the assessee assailed the conclusion and filed applications under section 256(1) of the Act which were rejected. Thereafter, this court was moved under section 256(2) of the Act and the directions were given as aforestated. Learned counsel for the Revenue submitted that the concept of income due was lost sight of by the Tribunal. It was, according to him, inconceivable that the sale pattials were not received for such a long time as contended by the assessee, particularly in view of the fact that some of the partners ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... goods, mode of transportation with reference to lorry number, date of sale, bill number, quantity in bags, net weight, rate at which the sales were made and the total price. Packing charges and incidental charges were added to the sale amounts in order to arrive at the total sale amount. As against such sales noted in the sale pattials, details of the expenditure incurred under different heads like commission, brokerage, labour charges, insurance, godown charges, etc., were indicated. Pattials also contained the details of remittances by hundi, T. T. or cash with relevant particulars. Al] these go to show that some time was necessary for preparation of the sale pattials to be furnished to the principal, i.e., the assessee. The Tribunal reco ..... X X X X Extracts X X X X X X X X Extracts X X X X
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