1985 (4) TMI 273

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ng on the business of grain and oil-seed in the relevant assessment year. Its books of account were rejected by the assessing authority and best judgment assessment was passed. In the first appeal filed by the assessee the rejection of books of account was maintained but the turnover was reduced. The revenue as well as the assessee being aggrieved filed appeals before the Tribunal and both the app .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ocked of. In view of the aforesaid fact this can also not be a valid ground for rejecting the books of account. Learned standing counsel contended that this fact in isolation that the shop was closed at the time of survey may not be a sufficient ground for rejection of books of account but the cumulative effect of all the grounds mentioned in the appellate order of the Tribunal may be enough to .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ect, the books of account could not be rejected on mere guess-work until and unless the department disclosed the source of information or particulars about the enquiry. That having not been done by the department I am of the opinion that the books of account of the assessee were wrongly rejected and they are liable to be accepted. Since the books of account have been held to be acceptable, the t .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X