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TMI Blog2011 (4) TMI 1251X X X X Extracts X X X X X X X X Extracts X X X X ..... n manufacturing and trading of rice and rice bran. A survey was conducted in the business premises of the assessee on March 15, 2003. Neither any accountant nor the proprietor was available on the spot during the survey. The aged father of the proprietor was present who stated that the proprietor has gone outside. The books of account produced later but were rejected. So, the assessing officer made the addition on the estimate basis by rejecting the books of account. With this background, Sri M.M. Dewan, learned counsel for the revisionist, states that at the time of survey, no books of account were found. The stock of wheat, rice and rice bran was noted down by ignoring the stock lying in a separate godown. At the time of survey, neither ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gister is checked and signed by the officers of marketing department from time to time. The levy stock register was checked and signed by senior marketing inspector on March 16, 2003 when stock of rice had been recorded. Lastly, he submits that the stock of rice and rice bran recorded in the books of account are much higher than the stocks recorded by the surveying team which shows bona fide of the revisionist since he would be bound to disclose the sales of all these stocks as and when they are sold. Thus, there was no question of any possible suppression of production or sales. On the other hand, learned standing counsel relied on the order passed by the lower authority as well as the impugned order passed by the Tribunal.I have heard l ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... post the latter in the ledger. Mere fact that the khata and rokar were not available at the shop at the time of first survey, is no ground to reject the books, though the revenue, if any other defect is found in the books, can certainly draw adverse inference against the assessee. In the instant case, there is no finding by the Tribunal that the assesse failed to show the cash book at the time of survey with mala fide intention. On these facts, the Tribunal was in error in affirming the finding of the authority below rejecting the books only on the ground that the cash book could not be shown at the time of survey. Therefore, I hold that the books version of the assessee on the facts and circumstances of the case should have been accepted ..... X X X X Extracts X X X X X X X X Extracts X X X X
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