- (1.) The petitioner is registered under the U.P. Trade Tax Act now under the VAT Act and is also registered under the Central Sales Tax Act and is carrying on the business of purchase and sale of bullion. In the normal course of business, the petitioner is maintaining its books of accounts and documents in accordance with the provisions of Section 21 and 22 of the U.P. VAT Act which includes cash book, ledger, purchase and sales register, tax invoices, sales invoice, sales memo, etc. According to the petitioner, whenever the company sells its goods to a registered dealer, a tax invoice is issued and whenever goods are sold to an unregistered dealer, a sales invoice is issued as per the provision of Section 22 of the U.P. Vat Act read with Rule 44 of the
(2.) U.P. Vat Rules indicating therein the complete name and address of the seller. However, while issuing a cash memo to an individual it is not necessary to indicate the name and address of the purchaser on the cash memo.
(3.) It transpires that a survey was made at the premises pursuant to which a survey report dated 29.1.2009 was submitted. According to the petitioner nothing incriminating was found in the said survey inasmuch as the entire records were found to be duly recorded and the books of accounts was found to be duly computerized and all entries were found to be recorded. It was contended that even in the survey report it was recorded that a tax invoice was issued when a sale was made to a registered dealer and a sales invoice was issued whenever a sale was made to an unregistered dealer and that no name or address of the purchaser was recorded when a sale was made to an individual in the cash memo.;