9911796707
TMI Blog1998 (3) TMI 657X X X X Extracts X X X X X X X X Extracts X X X X ..... rom common facts, it is convenient to deal with both the revisions together. 2.. In the assessment year in question the assessee dealt in manufacture and sale of cotton hosiery. It disclosed gross turnover of Rs. 11,53,378 out of which it admitted taxable turnover under the U.P. Sales Tax Act at Rs. 24,654 and deposited its tax liability accordingly. Under the Central Sales Tax Act no sales tax liability was admitted by the assessee. However, the assessing authority rejected the book version and determined the net turnover in U.P. and Central at Rs. 77,445.50 and Rs. 4,47,830.92 respectively. The assessee appealed against the aforesaid assessments but the appeals were dismissed without granting any relief to the assessee. Against the appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ry, challan, cash memo and purchase vouchers. There is a further categorical finding of the Tribunal that from the said account books the manufacturing activities, the purchases and sale are fully verifiable. Moreover the accounts were maintained in a similar manner as they were maintained in past and the account books for the immediately preceding three assessment years, i.e., 1982-83, 1983-84 and 1984-85 were accepted either by the assessing authority itself or in appeal. It may be pointed out that section 12(2) does particularise the form in which the stock register is to be maintained. It only indicates the nature of the record which a manufacturer is required to maintain. The object of maintaining stock books, etc., as contemplated und ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fact is verifiable from the details of stock register as on March 31, 1987 at ledger folio page Nos. 160 and 161. From the details of stock register as on March 31, 1987, it is evident that there were 525 dozens rejected hosiery, which were included in the closing stock of Rs.3,71,704, as per trading account produced before the assessing authority. On page No. 1 dated June 30, 1986 of the paper seized on the survey, the nikasi was 586.5 dozens while according to the bills of this date, transfer is of 851 dozens and sale of 34.5 dozens has been made through bill No. 8 dated June 14, 1988 and 101 dozens hosiery was transferred to Delhi branch while packing note Nos. 65 and 66 for which the bills have been issued on September 19, 1986. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... entries found recorded in the said parcha No. 13. As the explanation of the assessee was accepted by the Tribunal and nothing adverse was indicated in the material gathered at the survey aforesaid, the Tribunal deleted the impugned addition by saying that there was no material on record to show that the sales of hosiery made by Delhi branch were not of the stock transferred by the head office to Delhi branch. Further the Revenue was unable to place on record any material which may go to show that there was any privity of contract and the goods moved to another State as a result of such contract. 8. It would be seen that various findings of fact set out above were recorded in the order under revision on appreciation of evidence. The Tri ..... X X X X Extracts X X X X X X X X Extracts X X X X
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