TaxTMI 
TaxTMI 
2016 (7) TMI 855
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....ons challenging the orders of assessment for the years 2007-08 to 2010-11. For the purpose of disposal of these writ petitions, it would suffice to take note of the following facts : 3. The officials of the Enforcement Wing visited the petitioner's place of business on 17.9.2012 and 18.9.2012. During the course of inspection, it appears that the income tax assessment files maintained by the petitioner in their factory premises were seized and the Enforcement Wing officials pointed out that in the income tax returns, the petitioner reported higher turnover. When the proprietor of the petitioner was questioned and the statement was recorded, it came to light that the returns indicating higher turnover were filed before the Income Tax Aut....
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....order to fund the working capital to run the business, which was really under severe financial crunch. It was further stated that no sales suppression or stock variation was ever made out by the Authority concerned at any point of time and that the petitioner never involved in any activity resulting in any sales suppression or non payment of tax. 7. The petitioner further stated in their objections that they had been maintaining the stock register in the place of business and factory and produced all documents before the Enforcement Wing officials, who have not considered the same and requested the Assessing Officer to afford an opportunity of personal hearing so as to enable them to produce stock register and in order to prove that there ....
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....r submitted that the loan availed by the petitioner from the Indian Overseas Bank has been completely cleared and a certificate to that effect has been issued by the bank, which certificate has been duly registered as doc.No. 3322 of 2013. That apart, the learned counsel submitted that the electricity consumption would clearly establish that there is no sales suppression and that what had been shown in the books are correct statistics and the Authority concerned may be directed to consider the same. 11. At this stage, it would be relevant to take note of the judgment of the Hon'ble Division Bench of this Court (to which, I am a party) in the case of Prasad Properties and Investments (P) Ltd. Vs. State of Tamil Nadu [(2014) 75 VST 343].....
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....nce by this Court. We may point out that the Sales Tax Appellate Tribunal had not adverted to the facts as stated above on the other hand, it had relied on the decision of this Court reported in [(1993) 4 MTCR 419] and held that the case is not substantiated by the assessee. The Revenue does not dispute the fact that there is a charge sheet filed by the CBI Authorities as against the Indian Bank in granting loans or offering discounting on sham documents, yet the Sales Tax Appellate Tribunal rejected the assessee's case on the ground that no reliance could be placed on the charge sheet to decide whether there was sale transaction or not. Thus with the proceedings still pending before the Criminal Court on the allegation of fictitious ....