2020 (10) TMI 1062

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....ax<br>THE HONOURABLE MR.JUSTICE K.VINOD CHANDRAN And THE HONOURABLE MR.JUSTICE T.R.RAVI FOR THE PETITIONER : BY ADVS. SRI.HARISANKAR V. MENON SMT.MEERA V.MENON FOR THE RESPONDENT : BY SENIOR GOVERNMENT PLEADER SRI.V.K.SHAMSUDHEEN ORDER Vinod Chandran, J. The three revisions raise a common question of law, which we re-frame as under: Whether the Assessing Officer was justifi....

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....The assessment years respectively are 2012-13 and 2013-14; in the first of which assessment years, the gross profit was adopted at the rate of 60% as against the conceded 46.5%. In the later year, gross profit was taken at 70% as against the conceded 53.66%. In the earlier year there was also a stock difference of Rs. 3,006/- detected at the time of inspection. S.T.Rev.No.14 of 2020 is with respec....

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....it of certain brands sold in the Bar. It is also contended that the Assessing Officer has not at all applied his mind and has merely adopted the findings of the Intelligence Officer. 5. Sri.V.K.Shamsudheen, learned Senior Government Pleader, on the basis of the records, would defend the order passed by the Tribunal. It is pointed out that there is huge stock difference detected and only an equa....

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....plied his mind and not adopted the findings in the penalty proceedings as conclusive. We also notice that, as has been held in Kalika Hotel and Bar, Amballur (M/s.) and M/s.Sams Property Developers & Hotels, the gross profit conceded in all the assessment years is more than the gross profit expected by the Government, for the business in specific areas, as revealed from the provision for compoundi....