ASHWANI KUMAR MISHRA,J. - (1.) The revenue has preferred the present revision against an order of the Tribunal dated 24th November, 2016, passed in Second Appeal No. 81 of 2015 pertaining to the assessment year 2011- 12. The Tribunal has endorsed the view taken by the authorities with regard to discarding of books of account and has also found no fault with the computation of taxable turnover based upon the survey conducted by the department in which daily sale amount was found to be between Rs. 8,000/- to 9,000/-. However, taxable turnover has been reduced by the Tribunal only for the reason that the assessee had disclosed its sales at Rs. 1,06,974/-, whereas the turnover figures based upon survey works out to Rs. 26,00,000/-.
(2.) Learned Standing Counsel submits that the finding with regard to the books of account not being reliable, has been accepted by the Tribunal. It is also pointed out that the daily sales figures between Rs. 8,000/- to 9,000/- has also been accepted by the Tribunal. Contention is that in such circumstances, the taxable turnover could not be reduced, merely because the assessee had disclosed its sales at Rs. 1,06,974/-.
(3.) Per contra, learned counsel for the assessee submits that this was the first year of business and therefore, the Tribunal was justified in reducing the taxable turnover of the assessee.;