TaxTMI 
TaxTMI 
1989 (7) TMI 315
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....2-83. The assessee is a dealer in watches. The assessing officer rejected the book version of the assessee and estimated the sales of watches imported by the assessee at Rs. 7,00,000. The assessee appealed to the Assistant Commissioner (Judicial), who affirmed the rejection of the books. He was also of the view that sales of watches imported by the assessee were assessed by the assessing officer ....
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....(Judicial) and Tribunal's orders pertaining to the assessment year 1982-83, it is amply clear that the authorities below have clearly stated that four forms "C" related to the assessment year 1982-83. This being so, assessment for the year 1982-83 can very well be based on the four forms "C" and no plea can be taken by the assessee that since already assessment has been made on the basis of those....
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....tion for making enhancement was not vested in the Assistant Commissioner (Judicial). This is also factually incorrect, inasmuch as the Tribunal clearly observed towards the end of the paragraph 3 of its order that turnover fixed in best judgment assessment was subject-matter in first appeal. Turnover being the subject-matter of first appeal, the Assistant Commissioner (Judicial), was fully empower....
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....nt he worked out the sales of such watches at Rs. 13,00,000. However, it appears from the Assistant Commissioner's (Judicial), order that the factual position of the remaining 9 forms was not seen. Since the Special Investigation Branch did not say that the purchases made under the remaining 9 forms were verifiable, the Assistant Commissioner (Judicial), concluded that under those forms also avera....