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2009 (8) TMI 1072 - HC - VAT and Sales TaxWhether in the facts and circumstances, the Tribunal is legally correct in deleting the equal time addition of turnover even while having sustained the turnover of actual suppression? Whether in the facts and circumstances, the Tribunal is right in deleting the consequential penalty levied under Section 12(3)(b) of the TNGST Act? Held that:- The Tribunal has rightly applied its mind, verified the contents, compared the details and finally given a finding that the stock verification was arrived at only on the basis of money value of the goods and not on the quantitative basis, which has not at all been taken into consideration either by the Assessing Officer or the first appellate authority in deciding or in coming to the conclusion in so far as the stock variation is concerned. We see no reason to interfere with the findings of the Tribunal and accordingly, the questions of law are answered against the Revenue and in favour of the assessee. The revision fails and the same is accordingly dismissed.
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