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2013 (11) TMI 560 - HC - VAT and Sales TaxDiscrepancy in books of accounts - Whether the Appellate Tribunal was correct in overlooking the law that when the entire alleged stock difference is less than 2% the G.O.Ms.No.200 dated 26.01.1988 contemplates that such stock difference can be ignored for purpose of making assessment under the Act - Held that:- As per the letter of the Indian Overseas Bank, Kodambakkam Branch, which is a Nationalised Bank, the total stock of polythene granules stored in Key cash Godown as accepted by the Bank was 8750 kgs. When that being the case, the apparent error in the statement made by the assessee cannot be taken as advantage of by the Revenue to make the assessment on the stock position. The view of the Sales Tax Appellate Tribunal was that it was a subsequent document from the Nationalised Bank and hence, it could not be given credence to the stock position. Such view of the Sales Tax Appellate Tribunal cannot be accepted since the stock was under the Bank's custody and the assessee had no control over it at any point of time - Decided in favour of assessee.
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