Home Case Index All Cases VAT and Sales Tax VAT and Sales Tax + HC VAT and Sales Tax - 2010 (3) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2010 (3) TMI 1032 - KERALA HIGH COURTSuppression at four times the stock variation in quantity - Held that:- There is nothing to indicate from the Tribunal's order the basis of their estimation of suppressed turnover at ₹ 3 lakhs. Since we find no basis for the Tribunal to change the pattern of addition, we feel four times the quantity of suppression adopted by the first appellate authority is perfectly in order, and we do not want to disturb the discretionary power exercised by him. However, four times the addition should be on the quantity of suppression and the valuation of the suppressed quantity should be uniformly adopted at the rate of ₹ 59.62 per kg. We do not think it is a fit case to consider the question raised by the State whether rule 38(5) will apply retrospectively because in this case having regard to the modified additions sustained by us we do not want to disturb the finding of the Tribunal on purchase tax assessment. We direct the assessing officer to follow the Tribunal's order on this issue with the modification of the turnover as fixed above. Tax Revision case filed by the assessee is dismissed and tax revision case filed by the State is partly allowed
|