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TMI Blog2014 (8) TMI 541X X X X Extracts X X X X X X X X Extracts X X X X ..... ck in the books of accounts and that found during the visit match, except for its valuation. The same was, therefore, only due to error. However, admittedly, the value added tax would be paid on the valuation of the goods cleared. When there was variation of valuation for the purpose of payment of value added tax as compared to the physical stock even at the time of the visit by the authorities, the liability to pay the differential tax cannot be avoided - Decided against assessee. - Tax Appeal No. 237 of 2014 - - - Dated:- 2-5-2014 - Akil Kureshi And Sonia Gokani,JJ. For the Appellant : Mr. Hardik P. Modh ORDER (Per : Honourable Mr. Justice Akil Kureshi) The assessee has challenged the judgment of the Gujarat Value Adde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng authority. The only dispute is relating to stock difference. The stock was taken in the presence of the appellant and he had signed the same. The stock was more of ₹ 8,82,800 in the books of accounts. It was contended by the learned STP that as the stock was more on the books of accounts, there cannot be any evasion. In the view of this Tribunal barring a negligible difference, if the stock and the books are well maintained, there can be no much difference in the stock. Further, if the stock is found to be more on the books, it has to be presumed that the dealer had sol out the goods without recording the same in books of accounts. Such sales was not sale in accordance with the provisions of the statute. The contention that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iation of materials on records. One conclusion by the Tribunal, the final fact finding authority, and what was not seriously disputed by the assessee was that there was excess stock worth ₹ 8.82 lakhs in the books of accounts. On that basis, the authorities as well as the Tribunal confirmed the demand of the tax. We see no question of law arising. The counsel, however, submitted that the stock in the books of accounts and that found during the visit match, except for its valuation. The same was, therefore, only due to error. However, admittedly, the value added tax would be paid on the valuation of the goods cleared. When there was variation of valuation for the purpose of payment of value added tax as compared to the physical stock e ..... X X X X Extracts X X X X X X X X Extracts X X X X
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