2017 (2) TMI 1398

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..... books of account of the assessee have been discarded by the authorities under the Act essentially on the ground that there was excess consumption of electricity in auxiliary works Otherwise, there exists a categorical finding that statement shown in the books of account tallies with the record available and placed before the authorities, and there is no inconsistency. Learned counsel for the ass .....

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..... one. In the instant case, except for the finding that the consumption of electricity was more as compared to the production of rice in the year, no discrepancy was found in production account or in other account books of the assessee. This was also not a good ground for rejecting the assessee's account books." With reference to the aforesaid exposition of law, learned counsel submits that Tri .....

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..... this Court in M/S Shyam Rice Mills (Supra). 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 discard the books of account. I am in the respectful agreement with the view .....

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