9911796707
TMI Blog1964 (7) TMI 18X X X X Extracts X X X X X X X X Extracts X X X X ..... y, 1958, which led to the inference of their having existed turnover which was suppressed from the regular accounts. Notice for assessment of escaped turnover under section 16 was given by the Commercial Tax Officer who estimated the suppressions at rupees five lakhs odd. The Appellate Assistant Commissioner reduced the quantum of suppression to rupees two lakhs odd. In appeal the lower Appellate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reunder. We are unable to accept this contention. It might happen that the anamath account showed unexplained transactions for a specific period. But the manner of the conduct of the transactions might also show a continuation of the process of suppression for a much longer period and some times for the entire assessment year. In the latter contingency an estimate of the turnover for the extended ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for a specific period but for the whole year of assessment. The lower Appellate Tribunal as well as the assessing authority have given adequate reasons for their conclusion about turnover having escaped for the prior year, without any corresponding entries in the accounts of the dealer, and this has necessitated resort to the best of judgment rule. Learned Government Pleader drawing our attention ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... int of view, it appears to us to be necessary to make a reduction corresponding to the addition already made by the assessing officer for vanaspati suppression. Hence we restrict the addition made on account of escaped turnover to Rs. 75,000 for rice and Rs. 14,000 (Rs. 25,000 minus Rs. 11,000) for other commodities, i.e., Rs. 89,000 in all. The revision is dismissed in other respects. There will ..... X X X X Extracts X X X X X X X X Extracts X X X X
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