2003 (2) TMI 474

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....emises of the assessee on January 27, 1993 and a shop inspection report was prepared. Subsequent verification of the books of account with reference to the SIR revealed that the assessee had effected unaccounted purchase and sale of about 23 items. The assessee had admitted the offence and compounded the offence by paying a sum of Rs. 4,540. It has also come out from the check-post declarations that the assessee had purchased groundnut oil from outside the State parties evidenced by five bills to the tune of Rs. 1,95,000. On the basis of these materials, the assessing authority proposed to reject the return and the accounts and to make addition to the estimated turnover on two counts. The first one is on the basis of the discrepancies fo....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....98 and February 28, 2001.   But the assessee did not respond to the said notices. Consequently the original assessment was restored. The assessee took up the matter again before the first appellate authority, who with reference to the directions contained in the first appellate order declined to afford any further opportunity to the assessee to establish his case. However the first appellate authority reduced the addition of Rs. 23,40,000 to Rs. 14,04,000, i.e., 10 times the actual sale price of the suppressed transaction was reduced to six times of the said amount. On further appeal by the assessee, the Tribunal also justified the denial of any further opportunity. However, the Tribunal considered the reasonableness of the addition....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e assessee, no more additions to the said amount was warranted. We have also heard the learned Government pleader appearing for the respondents. He submits that considering the unaccounted transaction found both on the basis of the inspection and on the basis of check-post declarations, the reliefs already granted by the first appellate authority and by the Tribunal are reasonable and no further interference in revision is called for. The Government pleader also pointed out that the check-post declarations related only for a period of one month and that the assessee might have made such transactions during other periods also.   We have considered the rival submissions. So far as the addition made on the basis of the inspection co....