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2012 (2) TMI 450 - HC - VAT and Sales TaxWhether the estimation made for possible suppression on mere surmises is not fair and reasonable in the absence of any suppression of turnover? Held that:- In respect of the addition, there is factual finding given by the authorities below that the assessee had failed to maintain correct accounts and also had purchased groundnut kernel from undisclosed sources and found excess on the date of the inspection. So, addition of ₹ 3,43,400 was made based upon valid material. Even with regard to levy of tax on a turnover of ₹ 2,37,856 was based on valid material. It was also found that there was excess of stock of oil-cakes found by the officers of the enforcement wing. The assessee also unable to give any other material to take a contrary view. Therefore, the order passed by the Tribunal in respect of the addition made based on valid materials and hence, the same is confirmed. After going through the order, we also feel that equal addition is unwarranted. It is only based on estimate that too probable suppression. It is only a guesswork. There is no material for making equal amount for probable suppression. Therefore, we confirm the order in respect of addition made by the Tribunal. However, equal addition for probable omission alone is deleted. Question of law raised is answered partly in favour of the assessee.
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