2022 (6) TMI 973

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....cate Opposite Party Mr. Sunil Mishra, Addl. Standing Counsel ORDER 1. The present revision petition by the Assessee arises from an order dated 10th April, 2008 passed by the Orissa Sales Tax Tribunal, Cuttack (Tribunal) in S.A. No.357 of 2006-07 whereby the Assessee's appeal was dismissed and the order dated 27^th February, 2006 passed by the Assistant Commissioner of Sales Tax (ACST), Cu....

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....e Assessee was that he had given a personal loan of Rs.5 lakhs to Mr. Sikaria and had recovered back the principal amount together with interest in an aggregate sum of Rs.5,36,875/. 3. However, the Assessing Officer rejected the said contention and termed the loan transaction as purchase suppression. Accordingly, the gross taxable turnover (GTO) was enhanced by Rs.21,72,150/- which was four tim....

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....d was asked to be added to the extra tax demand. 8. This Court has heard the submissions of Mr. Jagabandhu Sahoo, Senior Advocate appearing for the Petitioner and Mr. Sunil Mishra, learned Addl. Standing Counsel for the Department. 9. Mr. Sahoo, learned Senior Counsel relied on the decisions of Allahabad High Court in the case of Mittal and Company v. Commissioner of Sales Tax (1988) 69 STC ....

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....sion was justified. 11. It is seen from the impugned order of the Tribunal that a letter was produced from Mr. Sikaria and placed before the Tribunal in which the statement of the account of the Assessee as appearing in the books of Mr. Sikaria was enclosed. It is further seen that on the part of the Assessee, material was placed to substantiate the contentions that the transaction was in fact ....