YASHWANT VARMA,J. - (1.) Heard Shri Piyush Agarwal, learned counsel for the revisionist and the learned standing counsel for the respondent.
(2.) This revision is directed against an order of the Tribunal which has affirmed the best judgment assessment undertaken and a consequential estimation of escaped turnover. It has also upheld the levy of penalty under Section 15-A of the U.P. Trade Tax Act 1948.
(3.) From a reading of the order of the Tribunal, it appears that the assessee had sought to assert a transfer of stock to an industrial unit at Gujarat for and on behalf of ex-U.P. principals. Both the assessing authority as well as the first appellate authority have found as a fact that the transferee unit was non existent and that the assessee had failed to bring on record any material which may have established a relationship of principal and agent.;