E I VARGHESE Vs. STATE OF KERALA

JUDGEMENT

(1.) THESE tax revision cases are by the same petitioner who is a dealer in jewellery. The respondent is the Revenue. The matter relates to assessment years 1980-81 and 1981-82.

(2.) THE assessing authority completed the assessments after rejecting the books of accounts and estimating the turnover at four times the average running stock. THE main reason alleged was that there was an inspection of the petitioner's shop on 30th August, 1980 and that there were suppressions of sales on that day. For the year 1981-82, the accounts were rejected for the reason that when the Central excise authorities inspected the shop on 4th April, 1981, an excess stock of 105. 7 gms. of gold was detected. THE petitioner challenged the orders of assessment before the first appellate authority, namely, the Appellate Assistant Commissioner. THE appeals were dismissed. THE matter was taken up in second appeal before the Tribunal. THE Tribunal partly allowed the appeals by fixing the turnover at three times the average running stock. Hence these revision petitions.