TaxTMI 
TaxTMI 
1996 (3) TMI 477
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....89 the Sales Tax Officer (Reserve), IV Circle, Kozhikode, for the assessment year 1987-88 assessed the respondent-assessee to sales tax on taxable turnover of Rs. 19,99,920. This was under the following circumstances. The assessee deals in jewellery business and had filed total turnover of Rs. 1,79,605.20 and taxable turnover of Rs. 1,58,669.30, claiming exemption for Rs. 20,935.90. It appears tha....
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....ing no alternative to the officer other than to pass the order as stated above. The first appeal before the Appellate Assistant Commissioner, Agricultural Income-tax and Sales Tax, Kozhikode, considered the situation and proceeding on the basis that in jewellery cases the turnover can be estimated at 4 to 6 times of the running stock, the appellate authority found that the suppression is huge, une....
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.... one inspection during the year therein and this was what was detected. It was submitted by placing reliance on the decision that it is difficult to give a long rope to the assessing officer to enter into an estimate which would be wild, arbitrary and capricious. It was submitted that estimate has a basis of reasonableness with reference to the detected situation. It was submitted that the differe....
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....Tribunal considered that wilful suppression cannot be attributed and could be also considered to be an accidental omission. The Tribunal also observed that there was only shop inspection and in regard thereto 11.350 gms. as regards new gold ornaments, stock difference could be located. On a rounded off figure it was valued at Rs. 23,600. In the above situation Tribunal reiterated its factual concl....