2013 (5) TMI 780

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.... respondent. JUDGMENT Heard Sri Shubham Agrawal, learned counsel for the assessee-revisionist and Sri U. K. Pandey, learned standing counsel for the Department. 2. This revision filed by the assessee relates to the assessment year 2004-05. The assessee is manufacturing and dealing in steel almirah and coolers, etc. The books of account of the assessee for the relevant year were rejected o....

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....n in this revision, is whether the authorities were justified in rejecting the account books of the assessee for the assessment year 2004-05 on the basis of survey dated April 21, 2005 and to make best judgment assessment. 6. There is no dispute that the survey at the business premises of the assessee was conducted on April 21, 2005. During the survey stock worth Rs. 65,000 was found. The asses....

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....ng survey that the business was being conducted for the last six months could not have been accepted by the authorities ignoring the affidavit of the proprietor dated September 22, 2005 wherein he has categorically stated that no business or transaction during the assessment year 2004-05 was done meaning thereby the business was started in the assessment year 2005-06. 8. It has been held by thi....

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....re the authorities, which could demonstrate that the assessee had conducted any business during the relevant assessment year 2004-05, there was no justification for rejecting the account books and in making the best judgment assessment on the basis of stock found during survey dated April 21, 2005. 11. In addition to the above, it is also well-settled that best judgment assessment cannot be mad....