TMI Blog2011 (12) TMI 460X X X X Extracts X X X X X X X X Extracts X X X X ..... pugned assessment is on estimation. Taking note of the fact that in respect of one other jeweller in the area concerned, as it is reported by the learned Special Government Pleader, the turnover was only ₹ 4 lakhs, we are of the view that in the interest of justice, the turnover of the assessee could be fixed at ₹ 5 lakhs. Inasmuch the impugned order of the Sales Tax Appellate Tribunal stands modified to the extent that the taxable turnover of the assessee could be fixed ₹ 5,00,000, and out of the said sum of ₹ 5,00,000, ₹ 2,00,000 (rupees two lakhs) shall be assessed at one per cent and the remaining ₹ 3,00,000 (rupees three lakhs) shall be assessed at three per cent. Since the assessee has alread ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pass an order in accordance with law after affording reasonable opportunity to the petitioner to explain the nature of the slips, etc., and entries thereon? (2) Whether the Appellate Tribunal was justified in law in making adhoc addition of 50 per cent of the alleged actual suppression without having due regard to the fact that the inspection of the petitioner's shop by the authorities was at the fag end of the year? (3) Whether the Appellate Tribunal was justified in law in sustaining the maximum penalty calculated on the tax due on the alleged actual suppression as estimated by the assessing authority ignoring the ratio of various decisions of the High Court on the issue of penalty? In and by the impugned order , the Sales ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d the taxable turnover and estimated the turnover at ₹ 16,53,921 and reduced the penalty to ₹ 55,880. It is as against the said order, the assessee has filed the present revision. It is an admitted fact that the assessee, who was originally a polisher, has started jewellery business in the year 1993-94 and closed it in the year and the assessment came to be made on the basis of certain inspection stated to be conducted on March 7, 1994 and 305 grams of jewels were said to be seized. It was the main contention of the learned counsel for the petitioner that the place where the assessee was carrying on business in jewellery is a small town, namely, Kattumannarkoil, where there are only three or four jewellers and no one of them ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ,00,000 (rupees five lakhs), the impugned order of the Sales Tax Appellate Tribunal stands modified to the extent that the taxable turnover of the assessee could be fixed ₹ 5,00,000, and by applying the ratio followed by the authority below, out of the said sum of ₹ 5,00,000, ₹ 2,00,000 (rupees two lakhs) shall be assessed at one per cent and the remaining ₹ 3,00,000 (rupees three lakhs) shall be assessed at three per cent. Accordingly, the total tax payable by the assessee shall be arrived at. Since the assessee has already paid a sum of ₹ 19,763 towards tax and a sum of ₹ 715 towards surcharge, the assessee is entitled for the refund of the excess amount, if any, paid by it. The assessing officer shall ..... X X X X Extracts X X X X X X X X Extracts X X X X
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