1996 (1) TMI 417 - HC - VAT and Sales Tax

Summary

The High Court of Kerala dismissed the revision case concerning the assessment year 1984-85 for a jewellery dealer under the Kerala General Sales Tax Act, 1963. The assessing authority estimated turnover at three times the average stock value, later reduced to 2½ times by the first appellate authority. The Tribunal considered six times the average stock value as a reasonable estimate due to suppression of turnover, leading to dismissal of the revision.