YASHWANT VARMA,J. - (1.) Heard learned counsel for the revisionist and the learned Standing Counsel.
(2.) These proceedings pertaining to the Assessment Year 2004-05 evidences a survey of the business premises of the revisionist having been undertaken and on account of material found during the course thereof the authorities formed the opinion that the turnover of the business was not being disclosed correctly and fully. Accordingly, the books of account were rejected and a best assessment judgment undertaken.
(3.) As is evident from a reading of the order of the Tribunal, it noted that as many as 165 bags of wheat, 93 bags of rice was present inside the premises while 12 bags of rice were stored just outside the premises, 400 empty bags, 20 bags of rice bran and 10 bags of broken rice was found present in the business premises. It has further noted that during the course of hulling of paddy 6% to 8% is obtained as rice bran. On the basis thereof it has proceeded to undertake a reverse calculation and has come to estimate that the assessee would have in the assessment year in question produced 190 quintals of rice. It has then taken the rate of rice to be Rs. 800/-. On the basis thereof, it has proceeded to estimate the turnover which according to it was not faithfully disclosed. The Court notes that the questions of law which have been framed in the revision are restricted to the estimation of turnover by the Department only. In the facts, as noted above, it cannot be said that the estimation was either whimsical or arbitrary.;