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2019 (7) TMI 647

..... eceived on stock transfer, when compared with the value reflected in 'Form- F' declarations - HELD THAT:- There occurred a failure on the part of the revision petitioner /assessee to reconcile the difference detected in accounted value of the goods received under stock transfer, by producing any proper documents in proof of the same, either before the Assessing Authority or before the first Appellate Authority. However, we take note of the fact that, the authorities have not considered the question whether there occurred any suppression in the sale turnover with respect to the quantity of goods received under stock transfer, with respect to which the difference was detected. The evasion or escapement of tax can be attributed only if .....

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..... ised the assessment in accordance with the proposal made. The order of assessment was challenged before the Deputy Commissioner (Appeals) raising various grounds. The first Appellate Authority found that, the assessee had failed to produce the books of accounts and any proper reconciliation statement along with supporting documents, to prove their contentions. Therefore it was found that, the difference occurred in the stock transfer accounted was not properly explained. Hence the additions made based on the above defects were upheld. 3. Before the Tribunal, the assessee contended that, the Assessing Authority as well as the first Appellate Authority had failed to consider the explanations offered with respect to the difference in the value .....

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..... Tribunal had deleted the further addition made, at 50% by alleging probable omission and suppression. 4. Learned counsel for the revision petitioner submitted that, apart from the issue mentioned as above, no other grounds raised are now pursued against the impugned order of the Tribunal. 5. Heard counsel for the appellant and Government Pleader appearing for the respondent. 6. We are convinced that there occurred a failure on the part of the revision petitioner /assessee to reconcile the difference detected in accounted value of the goods received under stock transfer, by producing any proper documents in proof of the same, either before the Assessing Authority or before the first Appellate Authority. However, we take note of the fact tha .....

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..... of before the Assessing Authority, in order to reconcile the difference detected and also to convince that there occurred no suppression in the sale turnover in relation to the entire goods received under stock transfer. Hence, the above revision is hereby allowed and the assessment made with respect to the year 2008-09 is hereby quashed, to the extent of additions made based on defect No. I noted in the order of assessment, which was confirmed by the first Appellate Authority as well as by the Appellate Tribunal. The matter is remanded for completing fresh assessment on the above said point. Fresh orders or assessment in this regard shall be passed by the Assessing Authority, after affording an opportunity to the assessee, at the earliest .....

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