1997 (11) TMI 502

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....embudoss Street, Madras-1. 3.. The assessee, it appears, effected the purchase of iron and steel from Steel Enterprises, Bombay by two invoices, namely, SE/84-85/520 dated October 14, 1985 to the tune of Rs.1,21,800 and SE/84-85/590 dated November 4, 1985 to the tune of Rs.1,00,870. The iron and steel so purchased were stated to have been sold in transit to Travancore Electric Chemical Industries Limited, Chingavanam Post, Kottayam and to Kirloskar Electric Company Limited, Malleswaram West, Bangalore-55 respectively by two invoices, namely, KA/8485/942 dated October 16, 1985 to the tune of Rs. 1,26,875 and KA/84-85/996 dated November 6, 1985 to the tune of Rs. 1,09,673-20, totalling to Rs. 2,36,548.20. 4.. During the assessment proce....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....four per cent being the transactions covered by "C" forms, falling under section 6(1) of the CSTA. 7.. As regards the turnover of Rs. 1,09,673.20, he remanded the matter to the assessing officer, giving an opportunity to the assessee-dealers for the production of "C" forms, so as to enable them, on such forms being produced, to have the said turnover assessed at the concessional rate at four per cent. As regards the penalty imposed, he was of the view that since the assessee included the entire turnover under "total turnover" and he claimed exemption on the ground of sales, falling under section 6(2)(b) of the CSTA, it cannot be stated that there was any incorrect or incomplete filing of return and consequently, the penalty levied by the....