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TMI Blog1976 (10) TMI 64X X X X Extracts X X X X X X X X Extracts X X X X ..... s. The turnover reported by the assessee, determined by the assessing officer, confirmed by the Appellate Assistant Commissioner in appeal and the turnover disputed before the Tribunal are given below:- Asst. year Taxable Taxable Taxable Turnover . turnover turnover turnover disputed . reported determined by confirmed by before the . . the A.O. the AAC Tribunal 1971-72 36,88,960-63 37,48,441-21 37,35,501-21 59,683-67 1972-73 35,28,084-10 36,61,660-10 36,61,660-10 1,33,576-00 So far as the assessment year 1971-72 is concerned, the objecti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... four accounts have been produced before the Joint Commercial Tax Officer (assessing officer) in reply to the notice issued by him and they were also produced before the learned AAC. Thus, there were no basis for sustaining the enhancement by the Appellate Assistant Commissioner. The defective copper wire was taken for company s own use which was valued at Rs. 360-50 and the lower authorities were wrong in not allowing deduction. There were loan transactions of aluminium rods and galvanised steel-wire between the assessee and Tvl. Vinyl General Industries on a turnover of Rs. 44,826-32. There was no sale by the assessee in favour of Tvl. Vinyl General Industries. Similar loan transaction between the assessee and Tvl. Omega Cables during the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t copper wire, sold as scrap can be levied with sales tax at multi-point rate only and that the rate of tax till 18th June, 71 on multi-point goods was 3 per cent. So far as the sale of copper wire scrap in 1971-72 is concerned, it took place under Sale Bill No. 135/9th June, 71 for Rs. 17,116-40. Therefore, the levy of sales tax must be only at 3 per cent. We find this point accordingly in favour of the assessee. 8. Point (ii) :- The contention of the assessee that all the accounts were produced before the assessing officer after the pre-assessment notice was received and that the same were produced before the learned AAC has not been disputed. It is not the contention of the Revenue that the assessee has maintained any of the accounts w ..... X X X X Extracts X X X X X X X X Extracts X X X X
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