9911796707
TMI Blog2009 (8) TMI 1072X X X X Extracts X X X X X X X X Extracts X X X X ..... tock variation of Rs.3,72,162/-, which was noticed at the time of inspection by the authorities on 21.01.1995 and the corresponding levy of tax, surcharge and additional sales tax were in dispute. The assessee also disputed the levy of penalty of Rs.1,06,517/- under Section 12(3) of the Act, which was levied by the Assessing Officer. Aggrieved against the order levying penalty and additional sales tax, the respondent-assessee preferred an appeal before the Appellate Assistant Commissioner in Appeal No.610/94. The Appellate Authority by an order dated 02.04.1997 has deleted the equal addition made on turnover to the tune of Rs.3,59,251/- and ultimately, the taxable turnover of the assessee was refixed at Rs.20,80,442/- and the consequently, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... circumstances, the Tribunal is legally correct in deleting the equal time addition of turnover even while having sustained the turnover of actual suppression? ii. 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?" 5. We have carefully verified the order of the Assessing Authority in regard to the equal addition made by the Assessing Authority. The Assessing Authority in his order had stated that notice was given to the assessee calling for objections and only after considering the objections, the order was passed. Unfortunately, we are unable to see even one line or any finding for inclusion of addition of equal amount for the alleged omissi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ut from the accounts of the appellants. The figures adopted in such workings were not at all incorrect as argued by the appellant in this case. Therefore, stock difference arrived in this case could not be treated as incorrect one. Therefore, assessment made on stock difference noticed in the place of business and its equal addition is sustained. 8. The order of the Appellate Assistant Commissioner is also an order without applying principles of natural justice, as no reason was given for his findings. The authorities, who are all quasi judicial authorities, should exercise their function in the manner known to law. Having given a clear finding both on facts and on law, he has to give reasons to sustain such equal addition, especially when ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sence of any brought forward entries, the further addition for the estimated suppression for probable omission cannot be made. Hence, following the principles held by the Hon'ble Madras High Court in the case referred supra, we are of the view that no further addition is required in this case with reference to the circumstances stand above. Accordingly, we set aside and delete the addition of equal amount of Rs.1,86,081/- and allow this portion of the appeal." 9. The Tribunal has, therefore, 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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