TaxTMI 
TaxTMI 
2011 (6) TMI 720
X X X X Extracts X X X X
X X X X Extracts X X X X
....petitioner's business premises were inspected on September 23, 1996 by the Enforcement Wing Officials, wherein it was found that the day book was found posted up to May 30, 1996. The inspection further revealed that actual stock of Rs. 7,740 found was not supported by bills. Apart from that, inter-State purchases for Rs. 2,28,177 were not accounted for in the accounts. The inspection further revealed that as per the two slips recovered at the time of inspection, purchase for Rs. 3,097 was not accounted for. These defects were admitted in the statement at the time of inspection. Thus, the assessing officer made on best of judgment assessment on the actual suppression found and also estimated two times addition towards probable suppressio....
X X X X Extracts X X X X
X X X X Extracts X X X X
....had also stated so in its reply of the preassessment notice. Without considering the same, the officer had treated it as an unaccounted transaction, to result in the best of judgment assessment. The learned counsel for the petitioner further contended that the Tribunal had not considered the case of the assessee for deleting the further addition in this case. Consequently, he prayed for setting aside the order of the Tribunal. Heard learned counsel for the petitioner as well as learned Special Government Pleader (Taxes) appearing for the respondent. It is no doubt true that the assessee in its reply dated April 13, 1998 contended that the inter-State purchases which were unaccounted at the time of inspection were subsequently accoun....