TaxTMI 
TaxTMI 
1970 (2) TMI 124
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....nd pulses. His account books were not accepted by the revenue, in view of the discovery of certain anamath slips which are characterised as regular sheets of paper which appear to have been kept by the dealer almost concurrently with his regular books of account. For the assessment year 1962-63, he disclosed a taxable turnover of Rs. 18,47,834.56. But the revenue after recovery of the anamath slip....
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....at they disclosed the name of the buyer as also the date of deal and various other entries connected with it, such as realisation etc. On the foot of such disclosure, after discovery by the revenue, it was contended before the Tribunal that the assessee did not have such quantity of mens rea to avoid or evade tax. The Tribunal refused to accept the plea and confirmed the assessment as made by the ....
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.... by the revenue to discover and seize the anamath slips, which were large in number, which in turn prima facie disclosed an escaped turnover of nearly, rupees two lakhs, probably the assessee's real turnover would not have been brought to tax at all. The explanation given by the assessee that he was very regular in his irregular accounts is only to be heard to be rejected. One cannot be heard to s....
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....ference to the turnover shown in the various forty slips discovered. The Tribunal finds that the addition of about rupees six lakhs for the year in question cannot be considered to be unreasonable for the reason that for the next year, the turnover as reflected in the books was Rs. 22,64,751.32 for the assessment year 1963-64. It was also noticed that in the subsequent years the turnover as disclo....