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TMI Blog2020 (2) TMI 1162X X X X Extracts X X X X X X X X Extracts X X X X ..... rial has been disclosed from which the assessing authority could determine the said price. Not only the material should have been duly considered by him in his order, but due opportunity should be provided to the assessee to rebut the same. In absence of due disclosure of the material which resulted in formation of opinion, the order of the Assessing Authority is clearly vitiated, as well as the First Appellate Authority and the Tribunal. The order Commercial Tax Tribunal, Lucknow deserves to be set-aside and the matter is remanded to the Assessing Authority to pass a fresh order after giving an opportunity of of hearing to the petitioner - Petition allowed by way of remand. - Trade Tax Revision No. - 151 of 2014 - - - Dated:- 18-2-202 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sale of Supari at the rate of 44-45 per kg and instead the Assessing Authority was of the view that revisionist has undervalued the price of the said product, which according to him was ₹ 90/- per kg only with a view to evade tax, and therefore, he has rejected the books of account of the revisionist and passed best judgment assessment on the basis of sale price of Supari at the rate of ₹ 90/- per kg. The Tribunal considering the above submissions have also recorded that the revisionist has disclosed the total turn of ₹ 1,21,73,023/- and the taxable amount of ₹ 1,09,40,983/- . The revisionist has disclosed the average selling price of Supari was ₹ 44-45 per kg instead of ₹ 90 per kg as accepted by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Assessing Authority after taking various evidences, but fairly submits that the Assessing Authority has not disclosed the details of the evidence relied upon him by fixing the sale price. I have heard the learned counsel for the parties and perused the record. The following question of law arises in the instant revision. 1. Whether, on the facts and circumstances of the case the impugned order passed by Learned Commercial Tax Tribunal Bench-1 is sustainable in the eyes of law as the same is based upon presumption, whereas the revisionist has adduced relevant evidences and material to show the price of the goods of local market where the transaction has taken place and the same should have verified by the authorities concerned, ho ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ₹ 90 per kg, rather ₹ 44-45 per kg as recorded in the books of accounts produced by the assessee. The very basis of the entire proceedings lacks bonafide as well as suffers from lack of consideration of relevant material for forming a satisfaction before fixing the sale price. The entire exercise undertaken by the assessing authority in rejecting the books of account and subsequently carrying out best judgment assessment is on the basis that the price of Supari is ₹ 90/-. No material has been disclosed from which the assessing authority could determine the said price. Not only the material should have been duly considered by him in his order, but due opportunity should be provided to the assessee to rebut the same. In a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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