Loss of all records in fire

Hi ,

Suppose someone lost all the records , vouchers, documents from FY 2006-07 to till the date of fire (date of fire in current year, i.e, FY 14-15) . Scrutiny assessments are under way for some of the previous years. 

Can he tell to the Assessing Officer for lossing of all documents/ data. he doesn't have any data/document related to the previous year even till date of firing.

Whether assessing officer has to accept his contention or he may reject the thing , make the assessment as per his asessment. Whether he can ask for documents/ data / vouchers / supportings, etc, which in fact doesn't exist due to lost in fire.

Is any case law available in favour of asseseee or vice versa.

 

Thanks

Regards

CA Manoj Mehta

Replies (1)
AO should be informed about the fact, and the assessement then may result into best judgement assessment as no records available. this may be of benefit to the assessee a bit but not to a great extent.

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