Ashwani Kumar Mishra, J. - (1.) Assessee is a registered dealer engaged in the business of manufacture and sale of Ata, Besan, Chana, etc. For the assessment year 2010-11, the Assessing Authority assessed the escaped purchase of wheat at Rs. 4.5 crores and undisclosed purchase of chana at Rs. 1 crore. After accounting for the packing material, etc. the Assessing Authority enhanced the turnover and accordingly, determined the liability of the revisionist to pay tax.
(2.) An appeal, preferred by the assessee, was rejected. The second appeal filed before the Tribunal, however, has been accepted in part and the amount of escaped assessment has been brought down from Rs. 4.5 crores to Rs. 1 crore. For such purposes, the Tribunal has basically relied upon certain documents, which were found from the premises itself. The exact quantity of materials found have been taken note of to come to the conclusion that the amount of escaped assessment itself was Rs. 856 lacs and in the totality of the circumstances, the Tribunal has fixed the amount of escaped assessment at Rs. 1 crore.
(3.) Learned counsel for the revisionist submits that the survey itself was conducted on 20.04.2010 and therefore, the authorities and the Tribunal were not justified in taking note of future transactions for the purposes of determining the liability.;