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TMI Blog2018 (11) TMI 1257X X X X Extracts X X X X X X X X Extracts X X X X ..... ribunal was right in having deleted the entire block assessment on ground only of the assessee having, time left to file the returns even for the first year of the block of two assessment years especially when the assessee had not disclosed the sales turnover as found in search in the books of accounts? 2. The learned Senior Counsel for Government of India (Taxes) submits that the residence of the Managing Director of the assessee was searched and survey proceedings were conducted in the assessee's own business premises. Statements were recovered on search from both the premises and the statements recovered from the business premises were found to have disclosed excess sale consideration than the statements found in the business premis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ity "IMFL"] and the State had conferred monopoly to distribute IMFL to the Kerala State Beverages Corporation. Hence, it was contended that there could be no sales suppression found by the Department without corresponding purchase suppression. However, we held that there was no purchase suppression, since the purchase was made in wholesale and the sale carried out in retail without any stipulation for the sale price; which was at the discretion of the Bar Hotel. This does not have any application to the facts of the present case. 4. Binoy Mathai (supra) was placed on record to show that, the mere fact that the period for filing the return was not over would not absolve the assessee from a block assessment if the transactions disclosed on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Direct Taxes, in which context the declaration was made. There was also no books of accounts recovered from the assessee's premises as has been specifically noticed by the Tribunal. It is also recorded by the Tribunal that the returns for both the assessment years, being 1999-2000 and 2000-2001, was filed by the assessee showing the higher sale consideration as has been found from the documents recovered from the residence of the Managing Director. Hence, if at all, the search materials could have led to a consideration for a re-assessment if there was no correct disclosure and in no circumstance a block assessment. We are, hence, not inclined to interfere with the order of the Tribunal and we answer the question of law in favour of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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