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TMI Blog2008 (3) TMI 323X X X X Extracts X X X X X X X X Extracts X X X X ..... (2) Whether on the facts and in the circumstances of the case, the Tribunal was justified in holding that the purchases of tins plates for manufacture of this were not made on the basis of weight but were made on the basis of number of component parts? (3) Whether on the facts and in the circumstances of the case, the Tribunal was justified in holding that the value of 4266 tins in A.Y. 1983-84 and the value of 3012 tins in Assessment Years 1984-85 was to be added in the income of the assessee ? (4) Whether on the facts and in the circusmtances of the case, there was evidence to justify the finding of the Tribunal that there was suppression of production of 4266 tins in Assessment Years 1983-84 and 3012 tins in Assessment Years1984-85 by the assessee ? (5) Whether on the facts and in the circumstances of the case, the Tribunal was justified in rejecting the evidence led by the appellant in support of his contention that the purchases were made on the basis of weight and not on the basis of numbers ? (6) Whether on the facts and in the circumstances of the case, the conclusion drawn by the Tribunal against the appellant are perverse, in that, no reasonable person could have re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under : "7. During the asstt. year 1984-85 the assessee had made purchases of oilcake from the following parties: Rs. 1. M/s.Shyam Inds. Rajkot 8,11,776 2. M/s.Sailesh Inds. Junagadh 7,94,078 3. Ganesh Inds. Morvi 12,85,625 4. M/s.Geeta Inds. Keshod 2,08,732 41,00,211 During the Assessment Years1985-86 the assessee had made purchases of oilcake from the following parties: Rs. 1. Ganesh Industries, Morvi 2,46,955 2. Shailesh Inds.Junagadh 17,578 3. Shyam Industries, Rajkot 4,28,926 4. Geeta Industries, Keshod 3,47,762 5. Lucky Industries, J'gadh 1,27,321 6. Jagdamba Indus., Morvi 67,889 12,90,431 The Assessing Officer subjected to verification the above noted parties from whom the purchases had been allegedly made as he had information that these purchases were Hawala entries. It was found that these parties were not traceable. The assessee gave full address of the parties but there was no success in tracing out the parties. Some brokers were produced by the assessee through whom alleged purchases had been made and they confirmed before the ITO that they acted as brokers bet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... th the Revenue and the assessee approached the Tribunal with cross Appeals. The Tribunal after hearing both the sides confirmed the order made by Commissioner (Appeals). The assessee,feeling aggrieved moved the Tribunal by way of Miscellaneous Application seeking recall/modification of the order made by the Tribunal on the ground that the Tribunal had failed to consider various pieces of evidence enumerated in the application moved by the assessee. The Tribunal vide its order dated 29.09.1994 rejected the application moved by the assessee holding that there was no apparent error on record which would permit the Tribunal to undertake review of its own order. That in fact, the Tribunal had duly considered all the papers/documents filed before the Tribunal both by revenue and the assessee and the Tribunal was not in a position to discuss each and every line of the Paper Book in the body of the order. 9. Mrs. Swati Soparkar, learned Advocate appearing on behalf of the assessee submitted that various pieces of documentary evidence on which reliance had been placed and which were forming part of the Paper Book filed before the Tribunal were not considered in proper perspective by the Tr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the time and rightly came to the conclusion that the disallowance to the extent of 25% was called for. It is established that the parties were not traceable; they opened the bank accounts in which the cheques were credited but soon thereafter the amounts were withdrawn by bearer cheques. That fairly leads to the conclusion that these parties were perhaps creation of the assessee itself for the purpose of banking purchases into books of accounts because the purchases with bills were not feasible. Thus the above noted parties become conduit pipes between the assessee firm and the sellers of the raw materials. Under the circumstances, it was not impossible for the assessee to inflate the prices of raw materials. Accordingly an addition at the rate of 25% for extra price paid by the assessee than over and above the prevalent price is fair and reasonable and we accordingly confirm the finding of CIT(A)". 12. Thus, it is apparent that both Commissioner (Appeals) and the Tribunal have concurrently accepted the finding of the Assessing Officer that the apparent sellers who had issued sale bills were not traceable. That goods were received from the parties other than the persons who had is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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