9911796707
TMI Blog1972 (8) TMI 127X X X X Extracts X X X X X X X X Extracts X X X X ..... 1,73,562.25 for the year 1960-61. But the assessing officer did not accept the turnover returned as correct but proceeded to add a turnover of Rs. 59,000, as representing turnover of suppressed sales of camphor, to the taxable turnover returned, on the ground that certain quantities of camphor totalling 1642 lbs. were seized by the Central excise authorities from three premises belonging to the as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssistant Commissioner was not inclined to grant the assessee's request. However, before the Tribunal, the final order of the Central excise authorities was produced. That order showed that quantities of camphor recovered from two of the premises had been shown to be not contraband goods and that the quantity seized from the third premises belonging to Manickam Chetty alone represented contraband i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er the third premises from which the camphor was seized belonged to the assessee-firm or whether it belonged to Manickam Chetty exclusively is one of fact; and all the three authorities below have concurrently held that the camphor seized from the three premises belonged to the assessee-firm, and not to Manickam Chetty exclusively. The learned counsel for the assessee contends that as per the te ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cent. to the value of camphor that was seized, and he ascertained the total suppression at Rs. 59,000. But the Tribunal would not proceed on that basis, but it adopted a different basis for finding out the value of the suppressed transactions in camphor. According to the Tribunal, the probable suppression can be taken as 25 per cent. of the turnover returned by the assessee. We are of the view tha ..... X X X X Extracts X X X X X X X X Extracts X X X X
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