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TMI Blog2015 (4) TMI 1122X X X X Extracts X X X X X X X X Extracts X X X X ..... detail after going through the books of accounts, stock register and purchase/sale vouchers came to the conclusion that the assessee was unable to prove only two tins of oil with a value of ₹ 900, accordingly on a value of ₹ 900 penalty of ₹ 270 was sustained. The Revenue has been unable to contradict the finding of fact recorded by the two appellate authorities. Therefore, n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee and thereafter dissatisfied with the explanation furnished, the assessing officer vide order dated December 6, 1994 held that the assessee was unable to prove by acceptable evidence about 472 tins of oil to the extent of ₹ 2,12,400 which have not been recorded in the books of accounts or supported by bills and vouchers and accordingly levied penalty of ₹ 60,000. Dissatisf ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , during the course of survey, admitted and accepted the guilt that the stock to the extent of 472 tins of oil was found unrecorded or was not supported by bills and vouchers, when there was a specific finding of assessing officer. There was no reason for the appellate authority to have reversed such finding of fact. She further contended that when the assessee himself had admitted, then in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gned by the authorised officer of the survey team. After analyzing the material on record, the Deputy Commissioner (Appeals) who had analysed the matter at a greater detail after going through the books of accounts, stock register and purchase/sale vouchers came to the conclusion that the assessee was unable to prove only two tins of oil with a value of ₹ 900, Accordingly on a value of &# ..... X X X X Extracts X X X X X X X X Extracts X X X X
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