TMI Blog2022 (6) TMI 972X X X X Extracts X X X X X X X X Extracts X X X X ..... t that the Assessee had only conducted four months of business in the year in question and that was one factor that weighed with the ACST in reducing the enhancement of the taxable turnover to thrice the actual amount of suppression. In the considered view of the Court, since this was a new venture and it is possible that the Assessee was not fully aware of all the legal requirements, the view ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l by the Department and restoring the order of the Assessing Officer? 3. The present revision petition arises from an order dated 29 th January 2008 passed by the Orissa Sales Tax Tribunal, Cuttack in SA No.998 of 2006-07, which in turn arose out of an order dated 8 th June 2006 passed by the Assistant Commissioner of Sales Tax (ACST) reducing the assessment framed under Section 12 (4) of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... th May 2004 for which no cash or credit memo had been issued. On verification of the physical stock, discrepancy was found in respect of ten items of goods. The inspecting team also found purchase suppression of Rs.11,704/- and sales suppression of Rs.1,22,288/-. Certain documents were also picked up by the inspecting team. In the detailed report submitted by the team, sale suppression amounting t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hree times the actual suppression and has thus restored the order of the STO. 8. This Court has heard learned counsel for the parties. 9. The Tribunal appears to have overlooked the fact that the Assessee had only conducted four months of business in the year in question and that was one factor that weighed with the ACST in reducing the enhancement of the taxable turnover to thrice the actua ..... X X X X Extracts X X X X X X X X Extracts X X X X
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