1994 (11) TMI 378

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....assessment year 1988-89, he furnished a taxable turnover of Rs. 3,03,172. His return was not accepted. The assessing authority estimated the taxable turnover of Rs. 13,53,850 and levied a tax of Rs. 85,366 along with surcharge of Rs. 5,463. The assessing authority estimated the turnover at three times the average running stock and also estimated the turnover of stock and for packing materials. The....

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....s the excess was only 840.900 grams. On the basis of this it is contended that the authorities below went wrong in estimating the turnover at three times the average running stock. 3.. We heard counsel representing the petitioner in detail. On the facts and circumstances of this case it has been clearly established that in the stock of new gold ornaments there was excess of nearly 840 grams. On....