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TMI Blog2019 (1) TMI 1697X X X X Extracts X X X X X X X X Extracts X X X X ..... rther looked into the facts of the case itself and therefore, the submission made by learned counsel for the revisionist in this regard is incorrect - the question answered in favour of the Revenue and against the revisionist. Whether, the rejection of books of account of the applicant and estimation of turnover is wholly perverse, arbitrary and excessive? - HELD THAT:- The Tribunal has considered in detail the findings recorded by the SIB to the effect that the entire business of the revisionist, as claimed by it appears to be a sham, no manufacturing activity was carried out by the revisionist firm in its factory premises - The books of account which were maintained were not available at any of the addresses mentioned by the revisionist. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /629, Shastri Nagar, Kanpur where the business premises of the revisionist firm is situated. Again on 21.11.1996, another survey was conducted by the SIB at 123/207, Saresbagh, Fazalganj, Kanpur, where the revisionist's factory is situated. Yet another survey was conducted by the SIB on 11.12.1996 at Shastri Nagar Head Office and also at its factory at Saresbagh, Fazalganj, Kanpur. For the assessment year 1996-97, the revisionist had disclosed total turnover to the tune of ₹ 2,48,42,417/- and taxable turnover amounting to ₹ 84,106/- and the tax paid by the revisionist was ₹ 6,977/-. On the basis of survey and other material available before the Assessing Authority, assessment order was dated 28.02.1998 was passed, whe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t the place of manufacture and very few items which are to be manufactured by the revisionist were found at the factory premises. When the revisionist informed the SIB that his books of account are available at office and other factory, they were also surveyed and there also the books of account were not found. This fact has been duly recorded in the inspection report of SIB. The stock register and other documents were also inspected by the SIB and details of which have been mentioned in the order of the Tribunal, which clearly indicates that the entire record has been manufactured and does not reflect true business transactions carried on by the revisionist. The Tribunal has considered the reasons given by the first appellate authority in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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