9911796707
TMI Blog2019 (7) TMI 1199X X X X Extracts X X X X X X X X Extracts X X X X ..... t may have been in order if the stock physically found was excess of that which was found recorded in the books of account, however, in view of the opposite fact being in existence, the opposite conclusion of acceptance of the goods appears to be wholly justified in view of the complete absence of any other incriminating material or circumstance to establish that the assessee was engaged in trading or sale of goods outside its books of account or to doubt the correctness of the books of account. The question of law, as framed above, is answered in the negative i.e. in favour of the assessee and against the revenue - revision allowed. - Sales/Trade Tax Revision No. - 1241 of 2008 - - - Dated:- 18-7-2019 - Saumitra Dayal Singh, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed, however, a defect was noted on account books being not produced. No other discrepancy or material was discovered during the survey to indicate that the assessee was engaged in any trade or activity outside its books of account. 5. During the assessment proceedings, the assessee produced his books of account and explained the reason for their non-production at the time of survey on account of absence of any responsible person at the business premises at the time of survey. The account books of the assessee were examined and no discrepancy was noted therein. In fact, according to those account books the assessee was found carrying more stock in his books that was found during verification at the time of survey conducted o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mitted. Therefore, the assessing authority has rightly rejected the books of account of the assessee. Once the books of account had been rejected, the best judgement assessment had to be necessarily made which does not suffer from any defect either. 9. Having heard learned counsel for the parties and having perused the record, it appears that other than the survey dated 11.03.2004, there was no other survey conducted at the business premises of the assessee during the assessment year in question. Then, other than that survey, there is no other incriminating material available against the assessee as may warrant rejection of his books of account. Coming to the survey itself, the only defect ..... X X X X Extracts X X X X X X X X Extracts X X X X
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