9911796707
TMI Blog1995 (1) TMI 356X X X X Extracts X X X X X X X X Extracts X X X X ..... he Tribunal. These additions were sustained out of a sum of Rs. 1,84,068 and Rs. 3,591 which were sustained by the Appellate Assistant Commissioner. This amount of Rs. 1,84,068 and Rs. 3,591 comprises in the following items: 1.. Entries in slip Nos. 20 and 21 (Rs. 57,440 with a gross profit of Rs. 14,360) assessed at 9 per cent on Rs. 71,800. 2.. Entries in book mark D and E (Rs. 1,10,110 and Rs. 2,158). 3.. Rs. 3,591 comprises a small item of Rs. 149 at 4 per cent; Rs. 1,590 at 4 per cent and Rs. 1,852 at 4 per cent. 2.. In so far as Rs. 57,440 plus Rs. 14,360 are concerned, the departmental representative has stated that this has been included in the local purchase account of the assessee and shown as taxable purchases. The Tribunal p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... verifiable. As regards Rs. 1,852 the assessee explained that it was returned to Delhi and it cannot be treated as sales. 5.. In so far as other entries in the slips and the accounts relating to stocks, the departmental representative submitted that the entries cannot be treated as purchases. It is not, however, supported by any stock book or manufacturing accounts, according to the Tribunal. The Tribunal found that by and large the entries in some of the slips which are claimed to be stocks are not easily verifiable. Therefore, the Tribunal held that to this extent, an estimate is called for and accordingly sustained an addition of Rs. 50,000 to the taxable turnover at 9 per cent and Rs. 3,600 at 4 per cent. 6.. As against the addition o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and they relate to the entries in book mark "D" and "E". This item of estimate relates to cables. The departmental representative found that entries are available in stock book. But there is some discrepancy in the quantity noted therein. There is no conclusive evidence for the same. The estimate was also not based upon any reliable data. The Tribunal pointed out that this would be a mistake. Considering these aspects, the addition of Rs. 1,10,110 was also deleted by the Tribunal. 11.. Third item relates to Rs. 2,158 pertaining to 83 coils of aluminium. The departmental representative found that these were received from Indian Cable Industries called as polythene cables. The departmental representative himself pointed out that it cannot be ..... X X X X Extracts X X X X X X X X Extracts X X X X
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