2009 (7) TMI 1146

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....Pleader for Taxes ORDER (Made by F. M. Ibrahim Kalifulla,J.) The Revenue has come forward with this revision and the substantial question of law sought to be raised is as under: "Whether in the facts and circumstances of the case, the Tribunal is legally correct in merely affirming the conclusions the first appellate authority without independent appreciation of the merits as final fac....

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....t in a statement at the time of inspection. However, it noticed that the respondent-assessee being a manufacturer of grey cloth, the sales turnover accounts revealed the value of cloth in a sum of Rs.2,24,97,012/-. The Appellate Assistant Commissioner also found as a matter of fact that the yarn account and the converted cloth account tallied for the entire period of the financial year 1995-96. In....

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....rresponding entries, which were also disclosed to the Inspecting Officers on the date of inspection viz., 13.12.1995, the relevant invoices and delivery challans were produced before the Assessing Authority as well as before the Appellate Assistant Commissioner and the Tribunal. Having regard to the fact that necessary entries were found in the stock register on the date of inspection viz., 13.12.....

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....97,012/-, which tallied with the yarn account and the conversion of cloth account for the financial year 1995-96. Having regard to such a conclusion reached by the Appellate Assistant Commissioner, which were based on relevant acceptable material evidence, the deletion of equal additional alone by the Appellate Assistant Commissioner cannot be found fault with. Equally, the confirmation of the sam....