9911796707
TMI Blog1971 (3) TMI 99X X X X Extracts X X X X X X X X Extracts X X X X ..... tock as per the stock book kept by the firm and disclosed to the authority was much in variance with the stock disclosed in the exercise note-books recovered. He therefore estimated the value of the closing stock of the firm as on 31st March, 1963, at Rs. 7,43,414.71. After considering such large variations and after the partner of the firm was confronted with such a fact, the Joint Commercial Tax Officer, Central Intelligence Section, forwarded the papers to the assessing authority to revise the assessment for 1963-64 on the basis of the discovery made by him and pursuant to the material furnished by him in his report dated 30th March, 1968. The assessing authority who is the respondent in this case took up the matter and by himself once a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... imate figure under two compartments, one for the purpose of assessing the same as if they related to first sales and the balance to second sales. The proportion adopted by him had relation to the actual business done by the assessee during the year in question and more particularly with reference to the goods sold and the turnover of which was disclosed by him when the first assessment was undertaken. After having thus apportioned the first and the second sales in the minner stated above, the assessing authority observed as follows: "The tax due on the suppressed sales works out to Rs. 8,120.87. At 1 1/2 times the tax due, penalty will be levied to the extent of Rs. 12,180 under section 12(3) of the Act, 1959" [which in fact ought to be sec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tock should be valued at Rs. 1,90,929.03. The process adopted by the assessing authority to arrive at the stock cannot be said to be an arbitrary one and was the product of fancy. It is only in cases where the material on record cannot prompt a reasonable and an instructed person to come to the conclusion as arrived at by the assessing authority, there is scope for interference under article 226 of the Constitution. Writs of certiorari are issued only if the finding of fact arrived at by quasi-judicial functionaries is perverse or so unreasonable that no reasonable person can sustain or support it. That is not the case here. I am unable therefore to agree with Mr. Sastry that the valuation arrived at by the assessing authority as regards un ..... X X X X Extracts X X X X X X X X Extracts X X X X
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