YASHWANT VARMA,J. - (1.) Heard Shri M.M. Rai, learned counsel for the revisionist and the learned standing counsel.
(2.) The two primary issues which have been canvassed on this revision relate to a levy of tax on closing stock of stone boulders and the assessment of the revisionist in respect of a works contract in terms of Section 3-F of the U.P. Trade Tax Act 1948.
(3.) Insofar as the issue of closing stock is concerned, admittedly no provision justifying such a levy exists. Learned standing counsel was also unable to draw the attention of the Court to any statutory presumption which may warrant or justify an imposition of tax on closing stock. There is also admittedly no material on record to hold that there was a sale of the closing stock as shown by the assessee. In view thereof the addition made by the assessing authority in the year in question in this regard cannot be sustained. The addition in this respect shall consequently stand set aside.;