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2014 (5) TMI 572 - MADRAS HIGH COURTWhether deletion of estimation made for loss of Form XX and not intimated as per Rule 37(2) of the TNGST Rules and thus unaccounted for by the dealer is legally sustainable - Taxable Turnover – Suppression of turnover - Loss of form XX – No evidence - No sufficient ground for Revenue - Held that:- Tribunal in its order had pointed out that, even though the assessee is personally responsible for the loss of such forms, there was no loss of Revenue to Government - Further, there were no good reasons shown by the Department to invoke the best of judgment assessment in determining the taxable turnover - The Tribunal had further held that there was no clinching evidence, except the circumstantial evidence, for estimating the taxable turnover - Assessee had shown sufficient reasons for the loss of the leaves of Form XX - It had been shown that there was a change of Managing Agents and as a consequence many records and books had been misplaced and were untraceable - It is also found that there was no evidence to show that the assessee had misused the missing leaves for the sale of tea. Relying upon Tata Iron and Steel Co., Ltd., Vs. Assistant Commissioner (CT) Central Assessment, Circle V, Chennai and others [2003 (11) TMI 566 - MADRAS HIGH COURT] - This Court had found there were no materials to show that the forms, not produced or furnished by the assessee, had been used for the movement of the goods in question - Further, it was not open to the AO to conclude that the goods had been moved and sold by assessee, without accounting for the same – Thus, assessee was not be held to have misused the missing leaves for the sale of tea and that he had suppressed the turnover to result in best of judgment assessment - Therefore, Revenue has not shown sufficient grounds to interfere with the order of Tribunal - Revision stands dismissed – Decided against Revenue.
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