1996 (9) TMI 592

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....e learned counsel for the petitioner at length and going through all the three orders, we find that situations are consecutively determined. 2.. For the assessment year 1988-89, in pursuance of notice under section 17(3) of the Act, certain defects were pointed out in the accounts of the petitioner-assessee. This was for the purpose of rejection of the accounts and resort to estimate of the turnover for the assessment year in question. 3.. There is no dispute that from the reply of the assessee to the said notice, the only surviving defects are 1, 4 and 6 thereof, because the defects at items Nos. 2, 3 and 5 are satisfactorily replied by the assessee. The said defects (1, 4 and 6) are as follows: "1. Raw rubber purchased for Rs. 5,....

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....he said order is dated January 21, 1992, after the appeal was heard a day earlier on January 20, 1992. Reading the said order it would become quite apparent that the petitioner-assessee made only one submission, that the exemption may be allowed for tax due from the assessment order for 1988-89. This was on production of a photocopy of the exemption certificate of the General Manager, District Industries Centre, Kottayam. On the basis of this production of the photocopy, the first appellate authority directed the assessing authority to verify the said certificate and consequently to allow eligible exemption from tax in question. The petitioner-assessee was directed to produce the certificate before the assessing authority to do the needful ....

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....ul to observe that the purchase value of the chemicals to the tune of Rs. 8,88,242.80 and the closing balance of Rs. 1 lakh and odd clearly reveal that much quantity of chemicals is used in the production of tread rubber. Thus the Tribunal has considered the situation on factual merits that were placed for its consideration. Then the Tribunal has proceeded to endorse the consequences, in the event of the assessee being entitled to exemption on the footing of the production of the photocopy of the exemption certificate. Even with regard to the process of fixing the cost of production relating to certain items, the Tribunal has endorsed the approach of the assessing authority. At the end the Tribunal has endorsed the decision of the first app....