TaxTMI 
TaxTMI 
2008 (1) TMI 848
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....ction of books of account is based on relevant considerations? (2) Whether the estimate of the turnover is legally justified and is based on material? (3) Whether the Tribunal is legally justified in taking firing period at 100 days while 94 days has been admitted and in estimating production at 9,50,000 bricks as against the disclosed production of 9,10,000 bricks? (4) Whether the estimate of average selling rate at Rs. 405 per thousand bricks is based on any material and is legally justified, inasmuch as the sales are completely verifiable? The dispute relates to the assessment year 1987-88. The dealer is a brick-kiln involved in manufacture and sale of bricks. With regard to the assessment year in question the dealer disclose....
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.... by the same the present revision has been filed. I have heard Sri Pawan Agrawal, learned counsel for the dealer and Sri Nimai Das, learned Standing Counsel representing the Department. Sri Agrawal has basically urged three points. Firstly, that the rejection of account books by the assessing officer as affirmed by the appellate authority and the Tribunal was not justified for the reasons that the account books had been rejected only on the ground that the dealer had not maintained the profit and loss account, cash book and ledger, even though the dealer had maintained the account books and other essential books required under the law. This according to Sri Agrawal could not have been a ground for rejection of account books as under s....
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....hree authorities have recorded a concurrent finding of fact with regard to the rejection of account books, determination of selling rate as also the firing period and, therefore, no interference is called for in revisional jurisdiction. It has been further submitted by Sri Das that the rejection of the account books was not only on the ground that the dealer had not maintained the profit and loss account, cash memos and ledgers but there were other reasons also for rejecting account books as would be apparent from the order of the assessing officer. He further submitted that the dealer had not filed any evidence in support of the selling rate disclosed by him to show that it was the prevalent market rate and, therefore, once the account boo....
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....emo submitted by the dealer stood rejected and, therefore, assessment with regard to the selling rate has to be made. The decision relied upon by the applicant in the case of Khanna Brick Works [2001] 18 NTN 90 is clearly distinguishable inasmuch as in that case the cash memo maintained by the assessee had not been disbelieved. This submission, therefore, also fails. Now coming to the last submission with regard to the firing period from a perusal of the judgment of the Tribunal it is clear that the Tribunal had proceeded on the reasoning that merely because the account books had been rejected it was not necessary to reject all the facts declared by the dealer which apparently means that the Tribunal wanted to accept the firing pe....