1974 (3) TMI 96

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....in utensils and scrap. For the assessment year 1968-69 he disclosed his sales at Rs. 1,09,828.68. The assessing officer disbelieved the accounts and determined the turnover at Rs. 3,00,000. In appeal the turnover was fixed at Rs. 2,50,000. The assessee then went up in revision. The revising authority rejected several of the grounds upon which the departmental authorities had rejected the assessee'....

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....see unsatisfatory. The account books do not show that the assessee had taken any amount to his house. The account books should show every transaction of cash. It may be pointed out that the contention of the department that a sum of Rs. 1,600 was utilised for suppressed transaction cannot be ruled out." On this view the revision was dismissed. At the instance of the assessee the following question....

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....next day. The view that the account books should show every transaction of cash and that the sum of Rs. 1,600 was utilised for suppressed transaction at the shop is irrelevant. The contention of the department that a sum of Rs. 1,600 was utilised for suppressed transaction does not have any material in its support and is a pure guess work. In our opinion, this contention had no relevance to the cr....