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2017 (12) TMI 1782
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.... For the Opposite Party: S.C. ORDER 1. Heard Sri Shubham Agrawal, learned counsel for the revisionist and the learned Standing Counsel for the respondents. 2. The assessee has preferred this revision calling in question a judgment rendered by the Tribunal on 9 February 2007 which has while setting aside the judgment of the First Appellate Authority restored the view taken by the Assess....
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....his addition of turnover and re-assessment holding that there was no justification to estimate turnover at Rs. 10,00,000/- merely on the basis of the discovery of a solitary bill of Rs. 60,770/- The Tribunal however has proceeded to affirm and adopt the line of reasoning which was taken by the Assessing Authority. This Court finds itself unable to sustain this decision of the Tribunal for the foll....
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....ent assessment. While it is true that in the course of estimation of turnover a certain degree of guess work must necessarily be recognized as vesting and inhering in the hands of the Assessing Authority, the same cannot possibly be construed as conferring a power to estimate turnover in a wholly whimsical manner as has been done in the facts of the present case. The estimation of turnover of Rs. ....