1985 (8) TMI 379

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.... books of account were rejected on the ground that the assessee did not maintain manufacturing account and the assessment for both the years was made at ₹ 1,50,000/- each. On appeal the Assistant Commissioner (Judicial) (in short the A.C. (J) ) reduced the turnover to ₹ 90,000/- for the assessment year 1975-76 and accepted the disclosed turnover for the assessment year 1976-77. On appeal of the revenue the Tribunal reversed the order of the A. C. (J) for both the years and affirmed the orders of the assessing authority. 2. The submissions made by Sri Rakesh Kumar Agarwal, learned counsel for the assessee are that simply because the books of account were rejected for want of manufacturing account for the purpose of U. P. Sales T....

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....oks of account has been well accepted by the assessee at least for the assessment year 1975 76. 3. Then the argument is that no good reason has been given by the Tribunal to affirm the assessed turnover of ₹ 1,50,000,/-each for both the years as against turnover determined by the A. C. (J) at ₹ 90,000/- and ₹ 89,977.50 for the assessment years 1975-76 and 1976-77 respectively. The A. C. (J) observed that there was no solid proof of suppression of the sales and, therefore the turnover could reasonably be estimated at ₹ 90,0 JO/-. The Tribunal has not endorsed this reasoning of the A. C. (J). The Tribunal while affirming the turnover determined by the assessing officer, observed as under : - "The appellate autho....