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TMI Blog1996 (9) TMI 584X X X X Extracts X X X X X X X X Extracts X X X X ..... 4-85. The assessment was completed by rejecting the accounts and making an addition of 30 per cent to the declared sales and further addition of 70 per cent of the added turnover as purchase turnover by the assessment order, annexure A. 2.. Seeing the assessment order, we find that the accounts produced are held to be not accepted as correct and complete for certain reasons. As far as the presen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d in respect of the sales effected to other parties. This showed clear case of undervaluation. It would be clear at once that as far as outsider customers are concerned, the articles were sold at Rs. 37 per kg. at an average rate up to May 16, 1989 and thereafter at Rs. 41.50 per Kg. However, with regard to the sister concerns, up to May 16, 1984, they were sold at Rs. 34 per Kg. and thereaft ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ich were under different stages of processing, along with the situation that the sister concerns were also having more or less manufacturing and dealings of same type of goods. In this connection, we find that in penalty proceedings, when the matter was before the Board of Revenue, the Board of Revenue appears to have reduced the penalty initially imposed under section 45A of the Act from Rs. 10,0 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce of weight and it would be approximately Rs. 42,000 on that basis. Examining the situation on reading of the orders of the three authorities, we find that these two aspects staring in the face of the record with reference to the consequences appear to have been ignored. In our judgment, these two aspects also should reflect on the ultimate relief in the matter. 4.. In regard to this, we also f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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