STATE OF TAMIL NADU, REP BY DEPUTY COMMISSIONER (CT), CHENNAI (SOUTH) DIVISION Vs. TVL METAL WELD ELECTRODES

JUDGEMENT

(1.) Instant Tax Case (Revision) is filed against the order of the Tamil Nadu Sales Tax Appellate Tribunal (Main Bench), Chennai, dated 24/01/2002, made in T.A.No.718/2001.

(2.) Facts as deduced from the material on record are that Tvl. Metal Weld Electrodes, manufacturers of weld electrodes, reported a total and taxable turnover of Rs.11,09,405/- and Rs.11,00,405/- respectively. During the check of accounts, the Assessing Officer has found that the assessee has not shown any purchases and closing stock in the Trading and Profit account for the year ending 31.03.1997. But actually there was a purchase of Rs.9,81,113/-. This was not brought to profit and loss accounts. The assessee also effected sale of machinery to the tune of Rs.4,72,000/- which was also not reflected in the profit and loss accounts. Hence, the Assessing Officer assessed the dealer on total and taxable turnover of Rs.25,52,134/- and Rs.20,80,134/- respectively, for the year 1996-97, under Tamil Nadu General Sales Tax Act, 1959, and also levied penalty of Rs.1,32,252/- under Section 12(3) of the Act.

(3.) Aggrieved over the assessment, the dealer, filed an appeal before the Appellate Assistant Commissioner (CT), Kancheepuram, disputing the turnover of Rs.9,79,729/- at 11 % and levy of penalty of Rs.1,32,252/-, under Section 12(3)(b) of the Act. The Appellate Assistant Commissioner, vide order, dated 15.03.2001, dismissed the appeal, as follows: