1999 (4) TMI 596

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..... onist s second appeal Nos. 267 and 268 of 1996 for assessment years 1991-92 and 1992-93, respectively. 2.. I have heard Sri Piyush Agrawal, learned counsel for the revisionist and Sri Surya Prakash, learned Standing Counsel for the respondent. 3.. The revisionist is a merchant purchasing and selling tendu leaves. For the assessment year 1991-92, the average selling rate as per books of account .....

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..... the revisionist the Tribunal did not reject the dealer s contention that the tendu leaves purchased and sold by it were of C grade but observed that it was not established that no purchases of A grade leaves were made. The Tribunal, therefore, reduced the average selling rate for the two years to Rs. 17 and Rs. 20, respectively. 4.. The learned counsel for the revisionist contended that the .....

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..... is nothing in the orders of the authorities below to show that the quality of tendu leaves sold by Asharfi Lal Jaiswal was also of B and C grades. Further no other evidence relating to other dealers in the same trade was collected to show what was the usual selling rate of B and C grades tendu leaves in the two years. Thus, the only material relied upon by the authorities below was an exem .....

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