ASSTT C I T Vs. KANHAIYALAL K SURANA

JUDGEMENT

(1.) THESE appeals arise out of a common judgment of the Tribunal dated 23.12.99. These appeals have been filed by the Revenue calling in question the legality of the said judgment of the Tribunal in respect of the respondent-assessee who is common in both the appeals. Tax Appeal No.191 of 2000 concerns the assessment year 1996-97 whereas Tax Appeal No.192 of 2000 concerns the assessment year 1996-96.

(2.) AT the time of admission of appeals, the Division Bench of this Court had framed the following question:

(3.) THE Tribunal reduced the estimation on the basis of 2% of the turnover. The Tribunal gave detailed reasons and observed that even if the assessee had evaded excise duty on such unaccounted sales, substantial portion thereof would have been passed on to the consumers. On such and other observations, the Tribunal reduced the income estimation on the basis of 2% profit on the total unaccounted sale turnover.