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TMI Blog2014 (9) TMI 920X X X X Extracts X X X X X X X X Extracts X X X X ..... appeal merely observing that it is not a case where only difference in stock has been found but adverse material has also been found which has been affirmed by the first Appellate Authority and there is no error in the order of the first Appellate Authority. The Tribunal has not stated that which other adverse material was found and how he agreed with the findings recorded by the first Appellate A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sment proceeding, a show cause notice was issued by the assessing authority on the points, namely, that the books of account were not found at the time of survey dated 30th September, 2011 and there is difference in the stock found at the time of survey and that entered in the books of account. The assessee submitted reply that books could not be produced as the proprietor of the firm was out of s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... led before the assessing authority. For this, the first Appellate Authority has referred to entry at serial no. 24 of the purchase list which mentions purchase from M/s Suraj Agencies vide Invoice No. 00195, dated 24th May, 2014. The genuineness of tax invoice and the details mentioned therein have not been doubted. No verification has been made by the first appellate authority. The first Appellat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... verse material was found and how he agreed with the findings recorded by the first Appellate Authority. 5. In view of the above discussion, since the Tribunal has failed to examine the facts of the case and to record own finding of fact on the issues raised before it and as such the impugned order cannot be sustained. 6. In result, revision succeeds and is hereby by allowed. The order of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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