9911796707
TMI Blog2006 (9) TMI 505X X X X Extracts X X X X X X X X Extracts X X X X ..... alue Added Tax Tribunal, Punjab, Chandigarh (for short, "the Tribunal") on appeal of the assessee. The assessee is engaged in the business of resale of electric and electrical goods and is registered under the provisions of the Punjab General Sales Tax Act, 1948 (for short, "the 1948 Act") as a dealer. The petitioner had surrendered rupees twenty lacs as income during the cour ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... held that in the trading/profit and loss account of the petitioner, the effect of suppressed purchases of Rs. 15 lacs was not reflected in the sales but the credit side was balanced by an entry of rupees twenty lacs as miscellaneous business income. According to the Assessing Authority this was deliberately done with a view to evade payment of sales tax. The Assessing Authority made addition of ru ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... providing an opportunity of hearing to the petitioner. We have heard learned counsel for the petitioner and perused the record. The apex court in Girdhari Lal Nannelal's case [1977] 39 STC 30 while dealing with the similar controversy held as under: "The approach which may be permissible for imposing liability for payment of income-tax in respect of the unexplained acquisition of money ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er acquisition of money by the assessee has resulted from transactions liable to sales tax, will have to be examined. Learned counsel for the petitioner was also confronted with the provisions of section 68 of the Punjab Value Added Tax Act, 2005 (for short, "the 2005 Act") which specifically provides that an appeal or revision lies to the High Court against any order passed by the Trib ..... X X X X Extracts X X X X X X X X Extracts X X X X
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