1993 (8) TMI 289

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... They are filed by the same assessee. The revision petitioner-assessee is a dealer under the Kerala General Sales Tax Act, 1963. The respondent is the Revenue. We are concerned with the assessment year 1985-86. 2.. The assessee returned a turnover of Rs. 9,85,259.02. He claimed exemption therefor. The returns and the accounts were rejected by the assessing authority. The order of assessment is ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....duced the ad hoc addition to 5 per cent to the taxable turnover conceded. The assessee as well as the Revenue filed appeals from the aforesaid order of the Deputy Commissioner dated March 14, 1988 before the Sales Tax Appellate Tribunal, Thiruvananthapuram. The Tribunal disposed of the matter by a common order dated February 26, 1991. The Appellate Tribunal adverted to the stock discrepancies foun....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....siness place of the assessee was inspected on January 16, 1986 and stock discrepancies in new gold ornaments and old gold were found out. There was no purchase of copper during the year. The Appellate Tribunal noticed that the difference in stock is 18 gms. in new ornaments and 4,400 gms. in old gold ornaments and the difference is not negligible. A penalty was imposed for the irregularities found....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....eft to the discretion of the assessing authority. In this case, the assessing authority added 10 per cent towards probable omissions and suppressions. The first appellate authority reduced it to 5 per cent. It was on the ground that the alleged stock variation on the day of inspection covers more than 9½ months of the year of assessment.   The Appellate Tribunal held that in the cas....