1986 (11) TMI 357

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..... 2.. The dealer carries on the business of sale and purchase in wheat and wheat products. In respect of the assessment year 1969-70, the dealer was assessed under section 12(4) of the Act to the best of judgment of the assessing officer which was confirmed in appeal. In second appeal before the Tribunal, however, the basis of enhancement was not accepted and the Tribunal annulled the enhanceme....

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....not reflected in the books of accounts of the dealer which is maintained on the Diwali year basis. As the account books did not reflect the figures on the dates as found from the slip, the assessing officer held that the accounts are to be rejected and accordingly treating the amounts to be suppressions, enhanced the turnover for the year. On consideration of the materials, the Tribunal held that ....