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2008 (5) TMI 625 - HC - VAT and Sales TaxWhether, on the facts and in the circumstances of the case, the Appellate Tribunal is justified in rejecting the accounts and estimating the turnover only on the basis of alleged low gross profit? Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is justified in observing that the burden of proof is on the assessee when actually the burden is on the Revenue to prove the higher rate of profit based on which assessment has been completed. Is it justified to ask the assessee to prove the negative fact? Whether, on the facts and in the circumstances of the case, the addition is justified when there is no inspection, stock variation, penalty, compounding or any other discrepancy in the accounts and actually the gross profit and the volume of trade showed a better trend than the previous year? Held that:- The questions of law framed by the assessee is answered in favour of the assessee and against the Revenue. Accordingly, we allow the revision petition. We direct the assessing authority to accept the conceded gross profit declared by the assessee in its annual returns filed for the assessment year 2002-03 and pass fresh assessment order in accordance with law, as expeditiously as possible, at any rate, within four months from today and issue a fresh demand notice.
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