STATE OF TAMIL NADU Vs. OLYMPIC CARDS LTD

JUDGEMENT

(1.) This Tax Case (Revision) is filed by the Revenue as against the order dated 24.11.2011 made in S.T.A.No.157 of 2005 on the file of the Tamil Nadu Sales Tax Appellate Tribunal (Additional Bench), Chennai raising the following substantial questions of law:

(2.) The brief facts of the case are as follows:

(3.) Aggrieved by the order of the Assessing Officer, the assessee filed an appeal before the Appellate Assistant Commissioner, who sustained the actual sales suppression to the tune of Rs.8,51,582/- and deleted the remaining sales suppression to the tune of Rs.1,06,06,086/- holding that most of the transactions found in the slips were accounted for in the accounts subsequent to inspection and the transactions contained in certain slips were related to exempted commodity. The Appellant Assistant Commissioner also deleted the equal time addition to the tune of Rs.1,06,06,086/-, however, sustained the remaining equal time addition. Consequently, he modified the penalty to the extent of 50% of the tax due on the actual suppression sustained.