ITEL INDUSTRIES LTD Vs. STATE OF KERALA

JUDGEMENT

(1.) These Revision cases are filed against the orders of the Tribunal modifying the KGST and CST assessments on the petitioner Company for 1999-2000.

(2.) We have heard learned Senior counsel Dr. K. B. Mohammedkutty appearing for the revision petitioner and learned Government Pleader appearing for the respondents.

(3.) The petitioner is a Tata Group Company, which was taken over by a Company by name M/s.Itel Industries Ltd., which is carrying on business in manufacture and sale of telephone equipments and instruments. The transfer of management was with effect from 01/06/2001 and the assessment pertains to the year 1999-2000. On going through the impugned orders, we find that returns filed were rejected and turnover estimated, for the reason that books of accounts produced were not full and complete. It is seen that the first appellate authority gave an opportunity to the assessee to produce books of accounts before the Assessing Officer for him to file a report. However, the Company could not produce all the books of accounts and therefore, the Assessing Officer suggested only estimation of turnover. The appellate authority made additions at 5%, which was modified by the Tribunal with lump sum additions both under sales and purchase turnover. It is against this order of the Tribunal, these revision cases are filed.