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TMI Blog2014 (8) TMI 541X X X X Extracts X X X X X X X X Extracts X X X X ..... Gujarat Value Added Tax Tribunal ('the Tribunal' for short) dated 6th January 2014 raising the following questions for our consideration: "i. Whether the learned Tribunal is right in upholding demand of tax and penalty on the premise that the appellants had sold out the goods without recording the same in books of accounts? ii. Whether the Tribunal is right in upholding the order dated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lty. This order ultimately came before the Tribunal. The Tribunal rejected the assessee's appeal making the following observations: "We have considered the rival contentions of the parties. It is not in dispute that the appellant had paid all the tax dues as was determined by the learned assessing authority. The only dispute is relating to stock difference. The stock was taken in the presence ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ks of accounts in accordance with the statutory requirement has to be followed. If that is not done, there is always likelihood of mal-practice and evasion of tax on the part of the dealer concerned. It is true that the learned first appellate authority had considered the contention that there was no difference in the quantity, but he also found that the difference was there in the different kind ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... his second appeal No. 515 of 2013 is hereby dismissed with no order as to costs." 3. In our opinion, the entire issue is based on appreciation of materials on records. One conclusion by the Tribunal, the final fact finding authority, and what was not seriously disputed by the assessee was that there was excess stock worth Rs. 8.82 lakhs in the books of accounts. On that basis, the authorities as ..... X X X X Extracts X X X X X X X X Extracts X X X X
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