2008 (11) TMI 638

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..... he case, the Tribunal is right in upholding the estimation based on one day sale? 2.. Whether, in the facts and circumstances of the case, the Tribunal is right in upholding the penalty when the entire estimation is only make and belief affair and not on actual omission or suppression of the turnover? The assessee is a dealer in sweets for the assessment year 1993-94. There was inspectio .....

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..... the assessing officer's order, the defects were only technical and the inspection was made during the time of Deepavali. The learned counsel relied on Hotel Vallalar v. Registrar, Tamil Nadu Taxation Special Tribunal, Chennai [2008] 15 VST 516 (Mad). The learned Special Government Pleader submitted that the assessee is a wholesaler and he is bound to maintain accounts properly and therefore, .....

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..... there are bound to be higher sales. In these circumstances, twenty five per cent of the estimated suppression may be added to calculate the taxable turnover. Proportionately, there will be other modifications. The assessing officer is directed to pass fresh assessment order in accordance with our directions. The questions of law are answered in favour of the assessee. This tax case is partly al .....

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