RENU GLASS WORKS Vs. COMMISSIONER, COMMERCIAL TAX

JUDGEMENT

(1.) Heard the learned counsel for the revisionist and the learned standing counsel.

(2.) The revisionist is stated to be engaged in the manufacture of glassware, glass rods, tubes. The dispute itself relates to assessment year 2003-04.

(3.) It appears that a survey of the business premises of the revisionist was undertaken on 31 May 2003. During the course of the survey, the team seized a diary and two loose papers which in the submission of the Department evidenced an intent to suppress the actual turnover of the assessee. No adverse inference was drawn by the Assessing Authority on the basis of the seized diary. However on the basis of the two loose papers which were found, the Assessing Authority proceeded to estimate the total evaded sales at Rs.4,76,241/-. Additional tax liability was accordingly imposed upon the revisionist. Having not found success before the first appellate authority which only partly reduced the tax liability, the revisionist took the matter to the Tribunal. The Tribunal has held that the Assessing Authority was justified in proceeding to reject the books of accounts and undertake a best judgment assessment. It however held the assumption of evaded sales was excessive and accordingly reduced the same as also the resultant tax liability relating thereto.