9911796707
TMI Blog2014 (7) TMI 1307X X X X Extracts X X X X X X X X Extracts X X X X ..... . B. Amit Sthalekar, This trade tax revision has been filed against the order of the Commercial Tax Tribunal, Lucknow dated 27.03.2014. The facts of the case in brief are that the revisionist is a registered dealer under the U.P. Value Added Tax Act and is carrying on the business of iron and steel (iron scrap) etc. There was an income tax raid conducted and in the income tax survey stock wor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the premises which had not been disclosed by the revisionist. The Tribunal has noticed that the difference in the weight of the iron scrap was found to be 14.480 M.T. and the final product was 7.31 M.T. The Tribunal has also noticed that the first appellate authority had granted a benefit in the tax to the revisionist to the extent of Rs. 2,44,000/- but it is noteworthy that in the entire body of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... en recorded in the book of accounts and that in the survey by the S.I.B. on 28.06.2010 the stock was found to be 1083 M.T., therefore, difference in stock has not been discussed at all by the Tribunal. In this view of the matter the impugned order dated 27.03.2014 of the Tribunal is illegal and arbitrary and is accordingly set side. The revision is allowed. The matter is remitted to the Comm ..... X X X X Extracts X X X X X X X X Extracts X X X X
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