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TMI Blog2020 (4) TMI 860X X X X Extracts X X X X X X X X Extracts X X X X ..... ction as per the process of manufacturing which is applied in production of Beer. As noticed that even the Kerala State Excise Mannual which was applied by the AO in the case of the assessee who was operating in State of Madhya Pradesh, was of no help to the reasoning given by the Assessing Officer, as it was a case of pretence and reasons to suspect only. Power u/s 147 cannot be exercised merely on reason of suspicion but there should be reason to believe. Therefore, keeping in view the findings recorded by the CIT(A) which have been affirmed by the learned Tribunal and considering the same on the touchstone and anvil of the arguments advanced by the learned counsel for the appellant-Revenue, we find no reason to differ, as no illega ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nical Excise Manual of the Excise Department? 3. Briefly stated, the facts giving rise to the present appeal, as enumerated in the memo appeal, are that the assessee, which is engaged in the business of Beer and bottling of Indian made foreign liquor (IMFL) filed its return of income declaring an income of ₹ 1,60,96,580/-. The case was reopened under Section 147 of the Act as the assessee is said to have not shown the ratio of yield. Thereafter, notice under Section 148 of the Act was issued on 22.09.2004. The assessee in its reply submitted that the return filed on 30.01.2000 may be treated as return in pursuance to notice under Section 148 of the Act. The Assessing Officer vide order dated 27.03.2006, on the basis of Kerala State ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... MT of sugar. If 5% wastage is taken during manufacturing (as per manual) and 10% storage wastage is also allowed, which is a maximum permissible limit (as per manual) then there is a net short accountable of production of Beer by 613154 BL, which sale was not disclosed. Learned counsel argued that even if average selling price of ₹ 26.49 per BL is taken out of books of accounts, it comes out to ₹ 1,62,42,450/- and therefore, there was no illegality in the order passed by the Assessing Officer. 5. On the other hand, learned counsel for the respondent-assessee argued in support of the impugned order and prayed that the orders passed by the CIT(A) as well as the learned Tribunal deserve to be affirmed and this appeal be dismiss ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the matter, dismissed the appeal of the Revenue holding that it was not a case for suppressed production as per the process of manufacturing which is applied in production of Beer. It was further noticed that even the Kerala State Excise Mannual which was applied by the Assessing Officer in the case of the assessee who was operating in State of Madhya Pradesh, was of no help to the reasoning given by the Assessing Officer, as it was a case of pretence and reasons to suspect only. The relevant extract of the order passed by the learned Tribunal is reproduced as under:- 9. It is a settled judicial principle that finality of completed assessment cannot be disturbed in a light manner and therefore, the law has provided safeguard in the fo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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