TMI Blog1982 (3) TMI 240X X X X Extracts X X X X X X X X Extracts X X X X ..... on the facts and circumstances of the case, there is justification to hold that the daily sales turnover of the assessee should be determined at Rs. 480 as done by the Tribunal?" 2.. The assessee is a registered dealer carrying on confectionery business at Bhubaneswar. For the assessment period 1973-74, the assessee disclosed sales at Rs. 58,387.65 and for the following year at Rs. 1,17,423.25. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the earlier investment. Amenities were increased and refrigerator was provided. The assessing officer, therefore, estimated that the return received by the assessee from the extra investment was also commensurate. The earlier daily figure of Rs. 220 was, therefore, enhanced to Rs. 440. Over and above this, there was a further addition of ten per cent on the principle that every year there must b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pe for the further addition of ten per cent. That would be without any justification. We would accordingly answer the question by saying that on the facts the determination of the daily turnover at Rs. 480 is not justified and the same has to be scaled down and it is open to the authorities under the Act to proceed on the estimated basis of daily turnover at Rs. 440 only. There would be no order ..... X X X X Extracts X X X X X X X X Extracts X X X X
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