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TMI Blog2017 (2) TMI 81X X X X Extracts X X X X X X X X Extracts X X X X ..... ion, which has not been accounted for, and according to the revisionist at best twice the amount of escaped transaction could have been taken into consideration for imposing liability of tax, but the enhancement by 28 times made is wholly disproportionate. It seems that the issue had earlier travelled to this Court in Trade Tax Revision No.327 of 2015, in which following orders were passed on 22.7.2015:- "Heard Shri S.D. Singh, learned Senior Counsel assisted by Shri Akhilesh Kumar Pandey, learned counsel for the revisionist and Shri B.K. Pandey, learned Standing Counsel for the respondent. This revision has been filed by the assessee being aggrieved by the order passed by the Tribunal dated 18.06.2015 by which the Tribunal has determi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tribunal will decide the matter within a month or by the end of August 2015 whichever is earlier. Till the decision is taken in the matter, the impugned demand shall remain stayed. The amount to be deposited by the assessee will be 10% of the 1,40,000/-. The revision stands disposed of. A copy of this order may be given to the learned counsel for the parties on payment of usual charges within 48 hours." After the matter has been remitted back, tribunal has reiterated its earlier stand and has observed that there is no justification to take a different view from what has already been observed by it earlier. Aggrieved by the subsequent orders dated 27.8.2015 of the tribunal, the assessee has preferred the present revision. Learned co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... han Rs. 9 crores and has also paid tax payable upon it. The authorities have not recorded any finding as to how assessment has been enhanced by almost 28 times. There has to be some reasonable basis or nexus between the escaped transaction noticed and the consequential enhancement made by the authorities. This Court had earlier indicated that unless there exists other material to come to a different conclusion, the authorities could enhance the assessment by twice the amount i.e. Rs. 1,40,000/-. The observations made by this Court in the order dated 22.7.2015 does not appear to have been taken note of in correct perspective and without any independent material or finding, it has reiterated the view taken earlier by it. There is no finding t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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