MANOJ KUMAR GUPTA,J. - (1.) Heard counsel for the parties.
(2.) During the assessment year 1999-2000, the applicant, who is engaged in the business of buying and selling of scrap, aluminium wire, brass wire, copper coated wires was assessed to tax liability of Rs. 24,592/- by the Assessing Authority. Aggrieved thereby, the applicant filed appeal before the Deputy Commissioner (Appeal), which by order dated 4.7.2002 reduced the tax liability to Rs. 16,443/- by holding that the applicant was a small trader. Aggrieved thereby, the department carried the matter in second appeal. The Tribunal by impugned order dated 13.3.2007 has restored the order passed by the Assessing Authority and has maintained the tax liability to Rs. 24,592/-.
(3.) The Tribunal has concurred with the reasoning given by the Assessing Authority in rejecting the books of account on the ground that the applicant had taken business premises on rent of Rs. 12000/- per annum, but in the books of account, it was disclosed as Rs. 6000/- only and also for the reason that expenditure towards electricity charges was not disclosed. The explanation of the assessee that the rent included electricity charges has been repelled by holding that in the business premises, the applicant was running two wire drawing machines, one wire winding machine, and one motor, apart from furnace and it is not possible that for running these machines, the applicant was paying a paltry sum of Rs. 1000/- only including the rent of the premises.;