2016 (1) TMI 47

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.... Tribunal, Mumbai in VAT Appeal No.164 of 2015 on 30th March 2015. 2. The Tribunal has partly allowed this Appeal. It has modified the order of the 1st Appellate Authority. It has directed the Appellant to deposit Rs. 22,00,000/- with the 1st Appellate Authority on or before 30th May 2015. 3. The Appellant is aggrieved by such a direction. Mr Upadhyay, learned counsel appearing on behalf of the Appellant, submits that the Tribunal has not adverted to any of the relevant and necessary factors. The Appellant has pointed out that the order was passed by the Assessing Officer in the absence of the Appellant. Secondly, he has relied upon the material in his possession. The Appellant is a sole proprietary concern. He was in personal difficu....

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.... some basis or material before it while passing the order. The Assessing Authority must not act capriciously and dishonestly, he could make an assessment of the income fairly by considering the business and the nature of dealings. 6. The second judgment relied upon is in the case of M/s Benara Valves Ltd. and others, v/s Commissioner of Central Excise and another, in Civil Appeal Nos. 5166 and 5167 of 2006, decided on 23rd November 2006. Reliance is placed by Mr Upadhyay on paragraph 5 of this judgment of the Hon'ble Supreme Court. With the assistance of Mr Upadhyay, we have perused the memorandum of appeal and all annexures. We have found that the Assessing Officer has made an estimate or judgment of the income on the basis that cer....