1993 (6) TMI 225

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..... were found out when the business premises were inspected on January 22, 1990. The average running stock was fixed at Rs. 24,69,420. The sales turnover of gold ornaments was determined at 41/2 times of the average running stock value. Thereby, the assessing authority fixed the total and taxable turnover at Rs. 1,11,12,390. In appeal, the Deputy Commissioner (Appeals) confirmed the rejection of accounts. However, she modified the quantum and held that 4 times the average running stock value will be fixed as the total taxable turnover. This will come to Rs. 98,77,680. The assessee appealed before the Sales Tax Appellate Tribunal as T.A. No. 387 of 1991 praying for further relief. The Revenue filed T.A. No. 539 of 1991 objecting to the relief .....

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..... rfere with the said decision, it will lead to a conflicting state of affairs. The decision of the Appellate Tribunal in T.A. No. 539 of 1991 has become final. In the common order, considering the rival pleas put forward by the assessee as well as the Revenue, the Tribunal has stated that it is reasonable to fix the taxable turnover at 31/2 times the average running stock value, which will work out to Rs. 86,42,970. If, in this revision, filed by the assessee, we take a different view, it will lead to a conflict with a decision which has already become concluded in not assailing the decision of the Appellate Tribunal in T.A. No. 539 of 1991 dated November 12, 1991. On this short ground, this revision itself is incompetent. 3.. Even on the m .....

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..... s of old gold ornaments land sale of new gold ornaments and other defects adverted to by the statutory authorities, the estimate of taxable turnover at 31/2 times the average running stock value is fair and reasonable. The fixation and the determination of the taxable turnover on the basis of the average running stock is one of the recognised methods. The Appellate Tribunal has given cogent and clear reasons and materials in paras 5 and 6 of its order to sustain 31/2 times the average running stock value to be the basis for working out the taxable turnover. We do not find any error of law in the order of the Appellate Tribunal dated November 12, 1991. 5.. The tax revision case is without merit. It is dismissed. Petition dismissed.
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