9911796707
TMI Blog1993 (7) TMI 320X X X X Extracts X X X X X X X X Extracts X X X X ..... running stock and by adding 10 per cent to the sales turnover of silver to cover up suppression. In appeal, the Appellate Assistant Commissioner reduced the turnover of gold by adopting three times the average running stock as the basis for the estimate. In other respects, the assessment was confirmed. In second appeal, the Sales Tax Appellate Tribunal in T.A. No. 245 of 1992, by its order dated October 26, 1992, modified the estimate regarding sales turnover of gold ornaments at 2.5 times the average running stock. The addition in respect of silver was reduced to 5 per cent. Regarding the car, the Appellate Tribunal held that the assessing authority should be directed to re-examine the matter, as to whether the car was actually owned by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ligence Officer, available at page 69 of the records, disclosed that all the defects and deficiencies were clearly admitted by the assessee. The above factors are sufficient to reject the accounts. The Appellate Tribunal did so. We see no reason to take a different view. 5.. The only other point is regarding the quantum of estimate. Counsel stressed on a recent decision of this Bench in Deputy Commissioner of Sales Tax v. Archana Jewellery [1993] 89 STC 27; 1993 KLJ (Tax Cases) 127 and submitted that the Appellate Tribunal did not bear in mind the proper approach to be made in fixing the quantum to be estimated in the best judgment assessment as laid down in the said decision. We find that the Appellate Tribunal has rendered its decision ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing the quantum in a best judgment assessment, the multiple of running stock is only one of the basis that can be adopted. If the Appellate Tribunal has adopted any other permissible basis for estimating the turnover by referring to the particular facts and circumstances of a case, it cannot be stated that the Appellate Tribunal erred in law. The case on hand is a converse case wherein the Appellate Tribunal has applied the multiple of running stock as a proper basis for estimating the sales turnover. We see no error in this. Similarly, the addition in respect of silver to 5 per cent of the turnover does not call for any interference. Regarding the sale of car, the Appellate Tribunal ordered only a remit. No other point was urged before us. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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