1994 (11) TMI 378

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..... d. The assessing authority estimated the taxable turnover of Rs. 13,53,850 and levied a tax of Rs. 85,366 along with surcharge of Rs. 5,463. The assessing authority estimated the turnover at three times the average running stock and also estimated the turnover of stock and for packing materials. The appeal preferred therefrom was rejected. In the second appeal before the Tribunal the estimation of .....

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..... went wrong in estimating the turnover at three times the average running stock. 3.. We heard counsel representing the petitioner in detail. On the facts and circumstances of this case it has been clearly established that in the stock of new gold ornaments there was excess of nearly 840 grams. On account of this variation in the stock, the assessing authorities estimated the turnover at three tim .....

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