1998 (4) TMI 499

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....n-petitioner is engaged in the business of manufacture and sale of gold ornaments. The business premises of the revision-petitioner was inspected on May 20, 1988. The relevant assessment year is 1988-89. On inspection, stock variations were noticed. New gold ornaments were found in excess by 3.425 grams. Old gold ornaments were short by 1.600 grams. As per the vouchers recovered by the inspecting ....

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....hereafter, the dispute was carried before the Sales Tax Appellate Tribunal, which too dismissed the appeal.   5.. So far as the defects point out in the book-keeping are concerned, we are of the view that the book version has got to be rejected and to that extent we see no error in the impugned orders of the authorities below. 6.. The question for consideration is whether on the basis o....

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....y found that the dealer resorted to large scale suppression both in sales and purchases, but there is no supportive material to this effect. The Appellate Tribunal also has not pointed out any material supporting the conclusion, arrived at by the assessing officer. Rather, the Appellate Tribunal found that "Even though the value of the stock variations is very nominal as canvassed by the learned c....