1994 (11) TMI 415

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..... n is one of estimate of the turnover of the assessee during the year 1985-86. While the assessing authority fixed it 4 times the average running stock, estimated at Rs. 40,56,298 the Deputy Commissioner (Appeals) fixed it twice the average running stock, which he fixed at Rs. 56,05,820.50. The Tribunal, in its turn, felt that the turnover may be fixed 1.5 times the average running stock. The Tribu .....

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..... sment at 1.5 times of the average running stock value would meet the ends of justice. The suppression noted at the inspection on March 18, 1986 was Rs. 1,42,728 and the addition which arises consequent on the decision of the Tribunal is over Rs. 33 lakhs. Having regard to the facts and circumstances of the case, we think that the Tribunal was well justified in estimating the turnover at the amoun .....

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