- (1.) The single question referred to us is as follows : "On the facts and in the circumstances of the case, the Tribunal was wrong in directing the Assessing Officer to consider the issue for the assessment year 1986-87."
(2.) The accounting year of the assessee was up to June 30. The assessee received a debit note of Rs. 1,05,420 on July 15, 1984, but the assessee had claimed the deduction for the assessment year 1985-86, the previous year in respect whereof ended on June 30, 1984. The extra gap of one year from 1984-85, i.e, between the accounting year and the assessment year, occurred because the assessee's accounting year did not end with March 31.
(3.) The Tribunal opined that the debit note being received 15 days after the end of the accounting year, it could not be claimed on a mercantile basis in respect of that previous year; its reason was that there cannot be a debt unless it is made known.;