ASHWANI KUMAR MISHRA,J. - (1.) Heard Sri Vishwajeet, learned counsel for the assessee and Sri A.C. Tripathi, learned Standing Counsel for the respondent.
(2.) The first appellate authority after considering a series of judgments delivered by this Court came to a conclusion that merely because books of accounts have been discarded and best judgment was followed, would not mean that liability of penalty would also arise automatically under Section 15-A(1)(c) of the U.P. Trade Tax Act. This order has been reversed by the Tribunal. It is observed by the Tribunal that in case the authorities come to a conclusion that assessee has wilfully concealed turnover, then penalty is to be imposed. Since the books of accounts have been discarded, therefore, the Tribunal came to the conclusion that necessary ingredients to attract penalty exist in the facts of the present case.
(3.) Learned counsel for the revisionist points out that there is no independent consideration or finding by the Tribunal that the assessee has deliberately concealed his turnover and merely for the reason that books of accounts have been discarded, the levy of penalty was impermissible in law.;