ASHWANI KUMAR MISHRA,J. - (1.) The order of the Tribunal is challenged in the present case on the ground that neither any basis is given to discard the books of account nor the Tribunal has discussed or given any reason to determine the selling rate of the product. It is contended that the order records that since in other cases rates have been fixed by the Tribunal, as such, the quantification is arrived at. Grievance is that no discussion or reasons are to be found in the order of the Tribunal for determining the selling rate. No reference is otherwise made of cases wherein rates are determined, to be followed here.
(2.) Learned Standing Counsel, although has attempted to defend the order, but has not been able to show any discussion or reasons in the order of the Tribunal to determine the selling price.
(3.) Having considered the submission, I am of the opinion that since the Tribunal has failed to discuss the evidence adduced, on the aspect relating to determining of selling price, nor any reasons have been recorded to arrive at the computation, the order of the Tribunal cannot be sustained. There is further nothing on record to show as to why books of account of the assessee are being discarded.;