2001 (3) TMI 1010

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....t he considered was a reasonable estimation. The learned counsel points out that in a case where there are no records, no evidence or no material or where there is a clear cut finding to the effect that the material or evidence that is on record does not inspire confidence the assessing authority may then be justified in adopting the standard of a reasonable estimation but he seriously finds fault with the procedure adopted in the present case and it is his submission that where regular accounts are maintained and where books of account are available these are a more reliable and correct basis for arriving at figures while passing assessment orders. To this extent, it is his contention that the appellate authority passed order in favour of ....

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....al order should be set aside and that the reassessment as directed should be continued to be permitted. 2.. Learned Government Advocate points out certain special features of this case, the first of them being that the assessee on his own volition has filed a revised return. He submits that where there is considerable down grading of the figures, it is not open to the assessee to contend that the earlier figures were on an approximation basis and the learned Government Advocate has drawn our attention to the fact that under the relevant provisions of law the monthly returns are expected to conform to the actual figures and not rough estimates. His submission is that where it is found on the assessee's own admission that there is a violen....

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....ood ground to answer this question in the affirmative then it is well within the jurisdiction of the revisional authority to do a reassessment and arrive at a decision instead of mechanically sending the case back to the original authority. To this extent we do agree with the learned Government Advocate that the revisional authority is within its powers provided there is enough material and provided the process is correctly conducted, to reassess and arrive at a conclusion which has been done in the present case. 3.. The next question is as to whether on the material before us this is a case in which interference by the High Court in exercise of its appellate jurisdiction is warranted. Unless it is demonstrated to us that the conclusions....