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TaxTMI 
TaxTMI 
2007 (9) TMI 585
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.... to as "the Act") is directed against the order of the Tribunal dated December 19, 2006 relating to the assessment year 2000-01. The applicant was engaged in the business of manufacture and sale of iron and steel. The applicant claimed to have maintained the books of account in the regular course of business. The assessing authority rejected the books of account on the ground that on three occa....
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....Tribunal by the impugned order has confirmed the rejection of books of account and the estimate of suppressed sales at Rs. 35 lacs. The Tribunal, however, on the other aspects has remanded back the matter to the assessing authority, which is not in dispute in the present revision. Heard Sri Ashok Kumar, learned counsel for the applicant and Sri Nimai Das, learned Standing Counsel. Learned co....
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....case of suppression of turnover. He submitted that no defect was found in the books of account and inasmuch as no case of claiming of wrong exemption has been made out. In this view of the matter books of account and disclosed turnover are liable to be accepted. Learned Standing Counsel relied upon the order of the Tribunal. Having heard learned counsel for the parties, I have perused th....
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....ecisions that the account books cannot be rejected on the ground where the turnover disclosed in the books of account is higher than the turnover disclosed in the return. Kailash Stationers Stores v. Commissioner of Sales Tax reported in [1987] UPTC 115, Chander Bhan Neta Nand Arhati v. Commissioner of Sales Tax reported in [1987] ATJ 761, Matrumal Dhanna Lal Oil Mills v. Commissioner of Sales ....