9911796707
TMI Blog2019 (10) TMI 576X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee. In absence of any inquiry being made and in absence of any evidence having placed on record, as may establish that the assessee had actually received those goods or dealt with the same, the suspicion that had arisen initially could not transform or lead to an adverse finding against the assessee. It is not for the revenue authorities to reach a conclusion as to existence of tax liability by speculating the manner in which a trader ought to have conducted himself. Such speculations may only give rise to suspicions but not to findings as to existence of a tax liability - For that finding to arise, there must be found existing evidence on record including that emerging from inquiry made from relevant sources. In this case ther ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 77; 3,02,267/- and ₹ 2,91,642/-. Also, it is undisputed that against bill No. 147 dated 20.10.2001, M/S Satish Steel Sales, Punjab dispatched iron and steel scrap to the assessee valued at ₹ 3,68,400/-. 3. Further, it is an admitted case between the parties that the aforesaid dispatch of goods was made by the seller at Punjab against duly filled up import declaration form of the assessee. According to the assessee, disputes arose between the parties resulting in the assessee returning the goods to the sellers before they came to be unloaded at its business premises at Ghaziabad. In that regard, the dispute between the assessee and M/S Khurmi Enterprises, Punjab are claimed with respect to price of goods whereas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by the assessee, its claim of return of the goods could have been rejected merely on surmises and conjectures? 8. Heard Sri Praveen Kumar, learned counsel for the assessee and Sri B.K. Pandey, learned Standing Counsel for the revenue. 9. Having heard learned counsel for the parties and having perused the record, though the revenue authorities had sufficient ground to suspect that the explanation furnished by the assessee or the claim set up by the assessee was not genuine, however, suspicion howsoever strong can never itself lead to creation of tax liability. For creation of tax liability, the taxable event must be established by the revenue authorities. 10. In the facts of the present ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
