2018 (12) TMI 1003

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.... located at No.61, Pillar Koil Street, Tondiarpet, Chennai-81. For the year 2003-2004, the respondents were assessed on a total and taxable turnover of Nil. 3. The place of business was inspected by the Enforcement Wing Officers on 24.01.2004 and they recovered some Slips in the place of business. Based on the slips recovered, the Assessing Officer revised the assessment and consequently, levied tax of Rs. 1,58,51,572/- at 2% and Rs. 1,44,10,571/- at 1% towards sales, suppression of gold jewellery and the corresponding purchase of bullion. The Assessing Officer has also levied penalty under Section 16 of the TNGST Act. This order was challenged in an appeal before the Appellate Deputy Commissioner (CT-II), Chennai. 4. The appellate author....

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....ned Additional Government Pleader appearing for the Department. 7. The record discloses that the respondent had stopped the business activity with effect from 31.03.2003 i.e. assessment year 2002-2003. During the year 2003-2004, the respondent would not have carried any business activity. The respondent, therefore did not maintain any books of account except cash book. During the inspection on 24.01.2004, the Officers of the Enforcement Wing recovered 11 Slips, based on which, the revised assessment were made. Regarding Slip Nos.1 to 9, the Inspecting Officers themselves accepted that these estimate slips related to sales transaction of Tvl.Surana Jewellery, a sister concern of the respondent. The Inspecting Officers have found that Tvl.Su....