TMI Blog2017 (2) TMI 1398X X X X Extracts X X X X X X X X Extracts X X X X ..... onflict that the ratio of law laid down by this Court in M/S Shyam Rice Mills [1987 (12) TMI 336 - ALLAHABAD HIGH COURT]. This Court had relied upon two previous judgement, which have been referred to in the decision to hold that mere excess consumption of electricity, can at best given rise to suspicion so as to warrant examination of other materials, but that by itself would not be sufficient to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o inconsistency. Learned counsel for the assessee contends that the view taken by the tribunal is inconsistent, and in teeth of the law laid down in M/S Shyam Rice Mills Vs. Commissioner of Sales Tax, U.P. reported in 1988 U.P.T.C. 375. Paragraph 13 of the judgement, which is relied upon, is reproduced:- Coming to the third ground, namely the disparity in consumption of electricity, my atte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xposition of law, learned counsel submits that Tribunal was wholly unjustified in discarding the books of account only on account of the fact that the consumption of electricity was found to be on a higher side. Learned Standing Counsel although has attempted to support the view taken by the tribunal, but fairly states that the only basis to discard the books of account is the alleged excess co ..... X X X X Extracts X X X X X X X X Extracts X X X X
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