TMI Blog2022 (10) TMI 55X X X X Extracts X X X X X X X X Extracts X X X X ..... the perusal of the order of the Tribunal, it is clear that it has not recorded any finding as to how it has arrived at only reducing the quantum to such extent when it has recorded that entries in the books of account for two loose papers, paper no. 1 and 3 were made subsequently, and solely on the basis of estimate had refused the quantum without any material on record - The Tribunal is the last fact finding authority and before arriving at any finding in case of either increasing or decreasing the quantum it has to record a specific finding as to how it has arrived at the figure. The tax authorities or the tax Tribunal are not justified in increasing or decreasing the quantum at their whims without any rationale or justification. Incr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tax Act, 2008 ( hereinafter called as Act of 2008 ) assails the judgment and order passed by Commercial Tax Tribunal, Meerut (Division Bench) dated 20.06.2022 in Second Appeal No. 71 of 2020 partly allowing the appeal which was filed against the judgment dated 12.02.2020 passed by Additional Commissioner, Grade-II (Appeals)- IInd, Commercial Tax, Meerut. 3. Facts in nutshell, are that assessee is a registered firm within the State of U.P. under U.P. Act of 2008. It is engaged in the business of trading and repairing of inverter/stabilizer, UPS and batteries. The dispute is for the assessment year 2013-14. On 24.04.2014, the premises of the assessee was surveyed/inspected. During the survey, the account books were not produced before ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... were entered into books of account. According to him, the loose paper which was termed as indicator 2 was only in form of quotation, and the other termed as indicator 4 was only in form of an estimate for CCTV cameras. The other indicator 5 was only in the form of an inquiry made by one M/s. Synergy System, and there was no transaction of any sale or purchase with the said firm. Lastly, the 6th indicator was in form of quotation by one Mr. Raju and there was no sale to him of any material. 6. According to assessee counsel, the Tribunal has not recorded any finding about the claim made by the firm as to indicator 5 and 6 and an objective assessment has been made on the material on record without recording any reason enhancing the purcha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... subsequently entered into the books of account which was produced at the time of assessment. 10. The Tribunal on the basis of the entry made in the books of account of these two loose papers at the time of assessment held that the enhanced sale was in excess to the quantum of purchase shown in the loose paper and reduced it to Rs.6 lacs instated of Rs.24 lacs as made by assessing authority, and further reduced quantum of enhanced sale turnover from Rs.40 lacs to Rs.10 lacs and thus reduced the tax demand of Rs.7,55,000/- by Rs.5,48,465/-. 11. From the perusal of the order of the Tribunal, it is clear that it has not recorded any finding as to how it has arrived at only reducing the quantum to such extent when it has recorded that ..... X X X X Extracts X X X X X X X X Extracts X X X X
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