1964 (7) TMI 18

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....e year 1958-59 an anamath account was recovered and it showed entries between 22nd May, 1958, and 30th May, 1958, which led to the inference of their having existed turnover which was suppressed from the regular accounts. Notice for assessment of escaped turnover under section 16 was given by the Commercial Tax Officer who estimated the suppressions at rupees five lakhs odd. The Appellate Assistan....

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....dgment, but that provision is not found in the Act after its amendment in 1959 or in the rules framed thereunder. We are unable to accept this contention. It might happen that the anamath account showed unexplained transactions for a specific period. But the manner of the conduct of the transactions might also show a continuation of the process of suppression for a much longer period and some time....

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....is implicit also in section 16, where the facts lead to a finding about turnover having escaped not only for a specific period but for the whole year of assessment. The lower Appellate Tribunal as well as the assessing authority have given adequate reasons for their conclusion about turnover having escaped for the prior year, without any corresponding entries in the accounts of the dealer, and thi....