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2022 (11) TMI 686 - HC - VAT and Sales TaxValidity of assessment order - additions were made based on the slips and books recovered from the petitioner - sale suppression of rubber thread - addition of 50% to taxable turnover - HELD THAT:- The petitioner has not made out any case for interference of the order of the Tribunal, upholding the order of the Assessing officer, by reversing the order of the Appellate Commissioner, in so far as addition of Rs.1,95,000/- and therefore to that extent we are not inclined to interfere with the order of the learned Tribunal. However, as far as addition of 50% of the Assessing Authority is contrary to the law settled by this Court in the Judgment THE STATE OF TAMILNADU REP. BY THE DEPUTY COMMISSIONER OF COMMERCIAL TAXES VERSUS SRI VINAYAGA AGENCIES [2009 (8) TMI 1072 - MADRAS HIGH COURT] where it was 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 - thus in the present case, the deletion of 50% as ordered by the Assessing authority is upheld. The Second Respondent is directed to issue a fresh order calculating the tax liability and a proportionate penalty within a period of three months from the date of receipt of a copy of this order - petition allowed in part.
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