TaxTMI 
TaxTMI 
1996 (9) TMI 584
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....Sales Tax Officer, Chengannur. The assessment year in question is 1984-85. The assessment was completed by rejecting the accounts and making an addition of 30 per cent to the declared sales and further addition of 70 per cent of the added turnover as purchase turnover by the assessment order, annexure A. 2.. Seeing the assessment order, we find that the accounts produced are held to be not accept....
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....ister concerns realised a value less by Rs. 3 than that was realised in respect of the sales effected to other parties. This showed clear case of undervaluation." It would be clear at once that as far as outsider customers are concerned, the articles were sold at Rs. 37 per kg. at an average rate up to May 16, 1989 and thereafter at Rs. 41.50 per Kg. However, with regard to the sister concerns, ....
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....r aspect in the matter of ascertainment of stock of each item which were under different stages of processing, along with the situation that the sister concerns were also having more or less manufacturing and dealings of same type of goods. In this connection, we find that in penalty proceedings, when the matter was before the Board of Revenue, the Board of Revenue appears to have reduced the pena....
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.... also get reduced more than 50 per cent on the basis of difference of weight and it would be approximately Rs. 42,000 on that basis. Examining the situation on reading of the orders of the three authorities, we find that these two aspects staring in the face of the record with reference to the consequences appear to have been ignored. In our judgment, these two aspects also should reflect on the u....