TMI Blog2021 (5) TMI 360X X X X Extracts X X X X X X X X Extracts X X X X ..... e basis of the trading account method - It is true that the petitioner has not maintained the stock register. The matter is remitted to the file of the second respondent to pass orders afresh in accordance with law. As per Rule 6 of TNVAT Rules, the assessee is bound to maintain the accounts - Petition allowed - decided in favor of petitioner. - W.P.(MD)No.10424 of 2017 And W.M.P.(MD)No.7969 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ase on hand pertains to the assessment years 2015-16. The petitioner's assessment for the said year was finalised on deemed assessment basis under Section 22(2) of TNVAT Act, 2006. The petitioner's place of business was inspected by the Enforcement Wing Officials on 19.08.2015. Stock difference was noticed. Based on the inspection proposal, the second respondent issued pre-revision n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat stock difference was arrived at on the basis of the trading account method. It is true that the petitioner has not maintained the stock register. As rightly pointed out by the learned counsel for the petitioner, the issue on hand is no longer res integra . It is covered by the order dated 11.10.2012 made in Tax Case(Revision)(MD) No.100 of 2012 ( State of Tamil Nadu represented by the D ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cise is undertaken, stock in physical terms can be easily arrived at. In fact, the assessing officer can call upon the assessee to undertake an exercise in this regard and come out with a statement on oath. Thereafter, its correctness can be verified by the assessing officer. The assessing officer is directed not to follow any formulae method but to arrive at stock difference in physical terms. I ..... X X X X Extracts X X X X X X X X Extracts X X X X
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