2017 (2) TMI 81

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.... paid tax upon it. It is only one transaction, which has not been accounted for, and according to the revisionist at best twice the amount of escaped transaction could have been taken into consideration for imposing liability of tax, but the enhancement by 28 times made is wholly disproportionate. It seems that the issue had earlier travelled to this Court in Trade Tax Revision No.327 of 2015, in which following orders were passed on 22.7.2015:- "Heard Shri S.D. Singh, learned Senior Counsel assisted by Shri Akhilesh Kumar Pandey, learned counsel for the revisionist and Shri B.K. Pandey, learned Standing Counsel for the respondent. This revision has been filed by the assessee being aggrieved by the order passed by the Trib....

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....ee may be given an opportunity of hearing while deciding the matter. The Tribunal will decide the matter within a month or by the end of August 2015 whichever is earlier. Till the decision is taken in the matter, the impugned demand shall remain stayed. The amount to be deposited by the assessee will be 10% of the 1,40,000/-. The revision stands disposed of. A copy of this order may be given to the learned counsel for the parties on payment of usual charges within 48 hours." After the matter has been remitted back, tribunal has reiterated its earlier stand and has observed that there is no justification to take a different view from what has already been observed by it earlier. Aggrieved by the subsequent orders dated 2....

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....urther appears from the record that revisionist has otherwise disclosed its turnover at more than Rs. 9 crores and has also paid tax payable upon it. The authorities have not recorded any finding as to how assessment has been enhanced by almost 28 times. There has to be some reasonable basis or nexus between the escaped transaction noticed and the consequential enhancement made by the authorities. This Court had earlier indicated that unless there exists other material to come to a different conclusion, the authorities could enhance the assessment by twice the amount i.e. Rs. 1,40,000/-. The observations made by this Court in the order dated 22.7.2015 does not appear to have been taken note of in correct perspective and without any independ....