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2019 (9) TMI 1470 - ALLAHABAD HIGH COURTRejection of books of account - undisclosed turnover of sales - HELD THAT:- In the first place, in face of two bills having been discovered from the business premises of the assessee during the survey conducted on 21.01.2006 that were not found accounted for in the regular books of accounts of the assessee, the conclusion of rejection of books of accounts cannot be faulted. That finding of fact arises from material and evidence on record, as has been considered by the authorities - answered in the affirmative, i.e. in favour of the revenue and against the assessee. Estimation of turnover and tax at excessive rate - HELD THAT:- This Court does not interfere if such an estimation is found arising from material and evidence on record, however, in the present case, other than the two undisclosed bills recording transactions worth ₹ 5,520/- (in all), there is absolutely no material considered by the assessing officer or the appellate authority for the purposes of making an estimation. It is a settled position in law that the estimation made must arise from and be proportionate to the evidence of undisclosed turnover. In the instant case, as against the undisclosed turnover ₹ 5,520/- discovered, that too, on one date, i.e. 01.01.2006, the estimation as has been sustained, bears no proportion being ₹ 5,25,000/-. The same cannot be sustained. The revision is partly allowed.
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