2011 (7) TMI 1035

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.... DR. SATISH CHANDRA J.-The present revision has been filed by the assessee under section 11 of the U.P. Trade Tax Act, 1948 against the order dated June 20, 2002 passed by the Trade Tax Tribunal, Lucknow, in Appeal Nos. 207 and 318 of 1998 for the assessment year 1994-95. The brief facts of the case are that the assessee is engaged in the manufacturing of goods for supply mainly to the Gov....

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....p Agarwal, learned counsel for the revisionist, submits that as per the circular dated September 30, 1991, the small traders were exempted from maintaining a register pertaining to the raw materials. However, it was mandatory to maintain the register pertaining to the finished goods. He also submits that the assessee was properly maintaining the books of accounts, which were accepted up to the ass....

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.... and purchase. He further submits that the turnover of the assessee was less than Rs. 50 lacs. So, the partial addition sustained by the first appellate authority is against the law. Lastly, he made a request to set aside the impugned order passed by the Tribunal. On the other hand, the learned standing counsel for the Department has relied on the impugned order. Heard both the parties at le....

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....ly recourse is left to make addition on estimate basis and the same was done in the present case. In the facts and circumstances, addition made/partly deleted on estimated basis appears reasonable. Needless to mention that estimation is a question of fact as per the ratio laid down in a catena of judgments including: (1) New Plaza Restaurant v. Income-tax Officer [2009] 309 ITR 259 (HP). ....