1994 (11) TMI 415 - HC - VAT and Sales Tax

Summary

The High Court of Kerala upheld the Tribunal's decision to estimate the turnover of the assessee at 1.5 times the average running stock value determined by the assessing authority. The Tribunal found that the turnover should be based on the value fixed by the assessing authority, not the higher value set by the Deputy Commissioner (Appeals). The Court dismissed the Revenue's revision petition, stating that the Tribunal's estimation of turnover was justified based on the facts of the case.