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Unaccounted goods found during a survey are deemed supplies under section 35(6), requiring determination of tax under sections 73 or 74. The proper officer may therefore pursue tax determination for excess or unaccounted stock at business premises, but may not directly invoke confiscation under section 130 or impose a penalty in lieu of confiscation. Confiscation proceedings under section 130 read with Rule 120, whether substituted for or added to tax-determination proceedings, are unsustainable. The confiscation-related fine and penalty were set aside, and the Revenue's appeal was dismissed.
Unaccounted goods found during a survey are deemed supplies under section 35(6), requiring determination of tax under sections 73 or 74. The proper officer may therefore pursue tax determination for excess or unaccounted stock at business premises, but may not directly invoke confiscation under section 130 or impose a penalty in lieu of confiscation. Confiscation proceedings under section 130 read with Rule 120, whether substituted for or added to tax-determination proceedings, are unsustainable. The confiscation-related fine and penalty were set aside, and the Revenue's appeal was dismissed.
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