2020 (11) TMI 1014

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....hammed Rafiq, Senior Government Pleader. ORDER K. Vinod Chandran, J. 1. The revisions relate to the cancellation of compounding as permitted in the year 2014-15 and the consequential best judgment assessment carried out. The questions of law raised are re-framed as follows in the respective revisions. "(1) Whether on the basis of the undisclosed purchases it was proper for the assessin....

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..... The assessing officer cancelled the compounding permission and carried out best judgment assessment. On best judgment equal amount was added for direct expenses and 50 per cent for other ingredients. Gross profit was computed at 20 per cent. The first appellate authority made some modifications and the Tribunal additionally deleted the further addition at 50 per cent after sustaining the additio....

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.... a pattern of suppression detected. On facts, it was found that the suppression was substantial amounting to more than Rs. 10,00,000. This alone would lead to a valid inference of a pattern of suppression. We do not find any reason to interfere with the order of the Tribunal. The second question also framed by us is answered against the assessee and in favour of the Revenue. 5. The learned coun....