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2014 (2) TMI 300 - MADRAS HIGH COURTRejection of books of accounts - Discrepancy in books of accounts and actual stock - First appellate authority deleted adjudication based on estimation and reduced penalty amount - Joint Commissioner set aside that order and uphold original adjudication - Held that:- a perusal of the order reveal that while upholding the actual suppression, the First Appellate Authority pointed out that the slips recovered during the inspection and the entries in the slips did not contain specific dates of the transaction and therefore, it could be construed for the whole period and not for any particular period, thus, giving benefit of doubt, the further addition was cancelled; on the aspect of stock discrepancy too, the First Appellate Authority cancelled the addition. The Joint Commissioner, while revising the order had not stated any specific period for the slip to fix it with any particular year for consideration; except for the view expressed to disagree with the findings of the Appellate Assistant Commissioner - here are no grounds shown to uphold the order of the Joint Commissioner and there are no grounds for sustaining further addition by way of estimation - Therefore, we set aside the order of the Joint Commissioner and restore the order of the Appellate Assistant Commissioner - Decided in favour of assessee.
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