TMI Blog1992 (4) TMI 231X X X X Extracts X X X X X X X X Extracts X X X X ..... erein the following two questions have been raised: (i) Whether, in the facts and circumstances of the case, the Deputy Commissioner (Appeals) and the Tribunal were justified in setting aside the levy of penalty? (ii) Whether, in the facts and circumstances of the case, when the facts are admitted any further reasonable opportunity should have been allowed to the assessee? Brief facts givi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... matter was challenged before the Deputy Commissioner (Appeals) and the Deputy Commissioner has held that reasonable opportunity was not given to the assessee and the entire proceedings were concluded in one day and that the entire stock should have been physically verified in order to come to a conclusion that a particular item is in excess or not and this has to be verified from the books of acco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ay penalty and, therefore, neither any further proceeding/enquiry was contemplated nor it was necessary that the books of accounts should have been examined. The submission of Mr. Mehta is that the alleged statement is inadmissible since the Assistant Commercial Taxes Officer has not administered oath or have written "read over and accepted" over his signatures and as such the said statement is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to be given to this effect and this finding could be given only after examination of books of account or other documents or any other satisfactory manner. Since no such finding was given for this basic requirement of the law nor the compliance thereof was made by examining the books of accounts, documents, etc., the Deputy Commissioner (Appeals) was justified in setting aside the penalty. The ord ..... X X X X Extracts X X X X X X X X Extracts X X X X
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