2014 (9) TMI 1258

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.... purchase and sale of rice ? (ii) Whether on the facts and circumstances of the case, the authorities were justified to levy tax on purchase as well as on the alleged sale of rice without any observation for giving benefit of Section 13 of the Act ?" Learned counsel for the applicant submits that the loose parcha dated 3.11.2010 found at the time of survey dated 8.11.2012 containing an entry of 700 rice bags of the value of Rs. 5,96,823/- was not of the applicant. The applicant does not deal in rice. No evidence of sale of rice was found. the applicant is a manufacturer of Murmure which is an exempt commodity. He, therefore submits that no tax could have been imposed upon the applicant merely on the basis of one loose parcha, wh....

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....tion that the parcha belongs to the applicant and represents his evaded purchase of rice. A concurrent finding of fact has been recorded by the authorities including the Tribunal, that this loose parcha represents evaded purchases of rice by the applicant. The findings of fact so recorded cannot be interfered with in the absence of any perversity. The quantum of turn over of purchase determined by the Tribunal also seems to be justified. The first appellate authority has determined evaded taxable purchases of rice at Rs. 15,00,000/- as against the entry of Rs. 5,96,823/- found in the loose parcha. The turnover of purchase so fixed comes to about 2.5 times of the amount mentioned in the loose parcha which is proportionate to the period fo....