2021 (5) TMI 360

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....Rooban for Mr.R.Veeramanikandan For the Respondents : Mr.G.Arjunan Government Advocate ORDER Heard the learned side on either side. 2.Even before commencing the arguments, the petitioner's counsel, on instructions, states that he will remit a sum of Rs. 1,00,000/- to the second respondent towards disputed tax demand. This would be without prejudice to the petitioner's contentio....

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....e stand of the petitioner, the proposals set out in the show cause notice was confirmed and the impugned order was passed levying tax and penalty on the petitioner. Questioning the same, the writ petition has been filed. 4.The second respondent has filed a detailed counter affidavit and the learned Government Advocate took me through its contents. The learned Government Advocate would call upon....

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....cision held that even though the assessee may not have maintained the stock register, the authorities cannot resort to any formula method. It was specifically noted that arriving at stock variation by adopting formulae method in terms of money value is not a scientific method. 7.Respectfully following the said decision, the order impugned in the writ petition is quashed. The Writ Petition is al....