2010 (5) TMI 778

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....on of proceedings under section 21 for the assessment year 1995-96. The petitioner was carrying on the business of purchases and sales of mustard oil. During the year under consideration, the petitioner claimed to have purchased mustard oil within the State of U.P. for Rs. 1,12,63,062. Mustard oil was liable to tax at the point of manufacturer or importer. The petitioner claimed exemption on th....

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....terial for the year under consideration for coming to the conclusion that the purchases were not verifiable and, therefore, in the absence of any material, initiation of proceedings was not justified. We have called upon Shri U.K. Pandey, learned standing counsel, to disclose the material for the year under consideration on the basis of which the belief has been formed that the purchases were n....