1996 (1) TMI 423

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....the Tribunal in relation to assessment years 1987-88 and 1988-89. The petitioner is a retail dealer. He declared total and taxable turnover as: 1987-88 1988-89 Rs. 10,31,614.17 Rs. 3,27,695.29 Rs. 1,31,433 Rs. 43,415 The assessing officer rejected the declared turnovers on the basis that classified sales account had not been properly maintained and determined the turnovers as under: Rs. 10....

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....l goods and dyes; 29.25 per cent to tea and 10 per cent to second dealer purchases is not correct. 3.. The Tribunal considered the question whether there were classified purchase accounts for the relevant years or any other material to accept the returns filed by the assessee. On examination of the material, the Tribunal found that no tangible material was available. The Tribunal and other author....