RAMCHANDRA RAMNIVAS Vs. STATE OF ORISSA

JUDGEMENT

(1.) THE question referred to this court under section 24 (1) of the Orissa Sales Tax Act runs thus :-

(2.) MR . Mohanty for the dealer contends that the view taken by the Tribunal is contrary to law and the accounts books cannot be declared to be not genuine merely because the margin of profit is low.

(3.) THE matter would be clear if we keep in view the observations of the Supreme Court in Commissioner of Income-tax v. A. Raman and Co. ([1968] 67 I. T. R. 11 ). In that case, their Lordships expressed their views as to whether an assessee can resort to evasion of tax by a contrivance or subterfuge. They observed thus :