2015 (7) TMI 1187

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....learned Senior Counsel assisted by Shri Akhilesh Kumar Pandey, learned counsel for the revisionist and Shri B.K. Pandey, learned Standing Counsel for the respondent. This revision has been filed by the assessee being aggrieved by the order passed by the Tribunal dated 18.06.2015 by which the Tribunal has determined the estimated turnover of the assessee on one single transaction of an amount of R....

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....nty times of the amount and even if it is in the discretion of the Tribunal to fix an amount then too some reasonable basis must be there for formation of this opinion. The decision cannot be taken on a whimsical basis. There is a vast difference between two times and twenty times. No reason at all has been given by the Tribunal in the impugned order for fixing twenty times of the amount. In the ....