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TMI Blog2013 (9) TMI 765X X X X Extracts X X X X X X X X Extracts X X X X ..... iable as the consignments had been dispatched along with forms as required under Sales Tax Act, and copies of challans, mandi tax vouchers, transport bilties etc. were also made available to the A.O. The assessee cannot be penalized specially when its books of accounts were properly audited and relevant vouchers were made available. The assessee cannot be held responsible for not submitting the proper reply by the buyers/commission agents - Profit being low by itself cannot be a ground for rejection of the books of accounts as per the ratio laid down in various judgments – Decided against the Revenue. - Income Tax Appeal No. - 34 of 2004 - - - Dated:- 4-9-2013 - Hon'ble Rajiv Sharma And Hon'ble Dr. Satish Chandra,JJ. For the Appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the manufacturing and sale of Khandsari (sugar). For the assessment year under consideration, the assessee has filed its return of Nil income but the A.O. under section 143(3) has completed the assessment on a total income of Rs.17,99,380/- by rejecting the books of account under section 145(3) of the Act. The additions of Rs.12,15,867/- and Rs.4,38,400/- respectively were made on estimate basis, which were upheld by the First Appellate Authority but the Tribunal has deleted the same. Being aggrieved, the department has filed the present appeal. With this background, Sri D. D. Chopra, learned counsel for the department submits that net sale shown for the assessment year under consideration had been declined, as compared to previous assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... here was no estopple in the taxation matters. We have heard learned counsel for the department and gone through the material available on record. From the record, it appears that the books of accounts were properly audited, checked and no specific error was detected. Regarding non-compliance to notices sent to various parties under section 133(6), the assessee explained that the parties might have not received the notice or they were not experts in keeping the accounts in the manner as the A.O. likes. Sales were fully verifiable as the consignments had been dispatched along with forms as required under Sales Tax Act, and copies of challans, mandi tax vouchers, transport bilties etc. were also made available to the A.O. The assessee cann ..... X X X X Extracts X X X X X X X X Extracts X X X X
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