TMI Blog2018 (3) TMI 543X X X X Extracts X X X X X X X X Extracts X X X X ..... quired to maintain stock books in respect of raw materials, as well as products obtained at every stage of production, unless exempted under the proviso. The maintenance of stock books would have a direct co-relation with the manufacturing process, as to maintain records of movement of raw material as well as finished products. The Tribunal has not specifically reversed the finding of first app ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orities under the Excise Act. For the assessment year 1999-2000, the applicant declared its total turnover at ₹ 2,06,32.616.64 paise and admitted tax liability to the tune of ₹ 20,60,962.07 paise. The assessing authority rejected books of account of the applicant on the ground that the assessee had filed to maintain stock books in respect of the raw material as well as products obta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... otherwise, there is no basis to enhance the turnover. This order has been reversed in appeal preferred by revenue. The Tribunal has observed that in the manufacturing unit of revisionist, proper stock registers have not been maintained and the enhancement in turnover is not excessive. Feeling aggrieved, the assessee is before this Court in the present revision. Learned counsel appearing for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... whose turnover, as referred to in Clauses (a) to (d) of sub-section (2) of Section 3, in an assessment year does not exceed five lakh rupees, the Commissioner, and in any other case the State Government, may relax the requirements of this sub-section subject to such conditions and restrictions as he or it may deem fit to specify. The manufacturer liable to pay tax under the act is, therefore ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tribunal has come to the conclusion that proper movement of stock is not maintained, but there is no discussion in the order of tribunal specifying the process, as also the stages of production to record movement of stocks. The further finding of the first appellate authority that there was no material to show that any turnover has escaped assessment, based upon survey, is also not reversed. In ..... X X X X Extracts X X X X X X X X Extracts X X X X
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