- (1.) Heard Sri R.R. Agrawal learned senior counsel for the revisionist and Sri B.D. Pandey, learned Standing Counsel.
(2.) This revision lays challenge to an order passed by the Trade Tax Tribunal upholding an order made by the assessing authority rejecting the books of accounts of the assessee and consequently coming to hold that tax has been evaded in respect of the sale of jute bags valued at Rs. 20,00,000/-. The disputed tax liability was pegged as Rs. 1,20,000/-. The undisputed facts appear to be that the revisionist, who is a registered dealer under the provisions of the U.P. Trade Tax Act, 1948 Act was engaged in the manufacture of jute bags. Survey of his business premises is stated to have taken place on 29 April 1998 during the course of which a provisional balance sheet relating to the assessment year 1997-98 was seized. In the course of survey, the assessee is stated to have explained the balance sheet to be a rough and provisional statement of accounts and that it did not represent the actual books of accounts which was maintained by the assessee in terms of the provisions of the 1948 Act. It was contended that the correct books of accounts had been maintained and it is on the basis of audited accounts that the tax had been paid for the relevant assessment year.
(3.) The assessing authority took note of an apparent discrepancy and variance between the rough/provisional balance sheet and audited accounts on the basis of which self assessment, tax was deposited by the revisionist.;