1975 (11) TMI 50

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....ssed for the period from 11th Nov., 1969 to 31st March, 1970 in the year 1969-70 (Revision No. 1313/74) and for 1970-71 (Revision No. 974/75). 2. In the year 1969-70 prior to reconstitution of the firm on 11th Nov., 1969 there was a gross and net turnover of Rs. 434.49 and Rs. 75,992.80. The net turnover was enhanced to Rs. 80,000 and confirmed in appeal. After reconstitution, however, the appl....

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....he assessee were not vouched. The assessee's explanation was that in respect of petty retail sales it was not possible to issue cash memos and that the petty sales were recorded accurately and faithfully by counting the cash at the end of the day. It will be seen that the retail sales were a very small portion of the assessee's total sales. I do not think that there could be any intention of suppr....

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....is brother. It does appear that the business was carried on mainly by the brother of Kunwarji and, therefore, probably the latter did not know the facts fully. It is not fair to treat the assessee's dealing with suspicion. 6. No doubt there has been a significant fall in the assessee's disclosed turnover of the year 1969-70 from that in the earlier period of the same year, but that by itself is....