TaxTMI 
TaxTMI 
TaxTMI 
2010 (11) TMI 871
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....rom November 1, 2001. The assessing authority has rejected the books of account and estimated the turnover at Rs. 84,80,550 as against the disclosed turnover of Rs. 79,26,000. On the basis of the survey dated November 16, 2002, wherein the munim has stated that no manufacturing of glass bangles was carried on since last four years, the assessing authority has held that the applicant had not man ufactured glass bangles but had manufactured glasswares and accordingly the suppressed sales of glasswares at Rs. 35,20,000 has been estimated. Being aggrieved by the order of the assessing authority, the applicant filed appeal before the Joint Commissioner (Appeal), Mainpuri. The Joint Commissioner (Appeal), Mainpuri, vide its order dated No....
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....t the assessee had evaded the sales of glass wares under the garb of manufacturing and sales of glass bangles, which were declared exempted from tax from November 1, 2001. The Tribunal further held that the authorities below have rightly rejected the account books as no plausible explanation regarding aforesaid irregularities has been furnished on behalf of the assessee. On the question of estimate of turnover, the Tribunal has held that the first appellate authority has recorded a contradictory finding and failed to appreciate the correct facts of the case. Much reliance has been placed on the statement of munim made at the time of survey dated November 16, 2002. The Tribunal has doubted the manufacturing and sales of glass bangles for the....
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....dated November 16, 2002 is not relevant for the year under consideration and is relevant for the assessment year 2002-03. For the assessment year 2002-03, the assessing authority had considered the survey in detail and on the basis of the affidavit filed by the munim, the plea of the assessee that the statement recorded in the survey report was not correct and in fact the assessee did manufacture bangles in the year under consideration has been accepted. Therefore, no reliance can be placed on the survey dated November 16, 2002. The learned standing counsel supported the order of the Tribunal. Having heard counsel for the parties, I have perused the impugned order and the orders of the authorities below. Before the Tribunal, the applican....