2019 (7) TMI 1126

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.... appeal filed by the revenue and dismissed the appeal filed by the assessee. Consequently, the finding of rejection of books of accounts and estimation of the turn over made by the assessing authority has been largely affirmed. 2. Heard Sri Vishnu Kesharwani and Sri K.N. Kumar, learned counsel for the applicants-assessee and Sri B.K. Pandey, learned Standing Counsel for the revenue. 3. First some attempt had been made first to assail the findings of the authorities as to rejection of the books of accounts by submitting that there was no discrepancy in the sales made by the assessee to M/s Tee Cee General Industries Pvt. Ltd. and that the discrepancy noted by the assessing authority was wholly unreal and non-existent. The said purch....

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....eral Industries Pvt. Ltd. and the job work transactions is left alone, it could not be disputed by the assessee that it could not lead any evidence to establish that Bill Nos.686 and 677 were cancelled by it. The transactions found recorded on those bills were also not verified from the regular books of accounts of the assessee. As to the opportunity granted to the assessee, learned Standing Counsel has relied on the assessment order itself which contains full discussion with respect to, amongst others, the 5 bills in question. The assesses's reply to the same was also considered by the assessing authority, as has been recorded in the assessment order. Thereafter, the assessing officer concluded that bill nos.686 and 677 were neither ca....

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....n due appraisal of evidence on record and therefore it does not warrant any interference of this Court. 8. As to the other question pressed with respect to quantification of concealed turnover, learned counsel for the assessee submits that insofar as the transaction of sale made to M/s Tee Cee General Industries Pvt. Ltd. were wholly reconciled, it does appear from a perusal of Form-3B and the entries recorded with respect to the bills for which such Forms-3B were issued, that the findings of the assessing authority have been hurriedly reached. Prima facie, it does appear that the contention of the assessee is correct, both with respect to the volume of the transactions and number of bills for which Forms-3B were issued itself. Thus, ....

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....earned Standing Counsel by an equally forceful submission that the first appellate authority also did not record any finding based on any material or consideration of evidence but only deleted the addition on observations that certain books were produced by the assessee reflecting engagement on job work basis. 11. On a perusal of the orders passed by the three authorities, the submissions advanced by both counsel appear to be correct, inasmuch as none of the authorities has applied its mind as to the claim of job work made by the assessee. While the assessing authority and the Tribunal had rejected the claim of the assessee, the first appellate authority has accepted the claim without recording any specific reasons. Since the rejection o....