The judgment of the Court was delivered by

SHUKLA, J. - M/s. Subhash Iron & Steel Rolling Industries had filed the second appeal in the Gujarat Sales Tax Tribunal at Ahmedabad against the order of the learned Assistant Commissioner of Sales Tax, Ahmedabad, who had dismissed its first appeal against the order of forfeiture of the amount of Rs. 27,104 passed by the learned Sales Tax Officer of Ahmedabad dated 15th November, 1971, in respect of the period from 7th April, 1967, to 31st March, 1968, as the relevant year of account.

The facts of the case may shortly be stated as under :

M/s. Subhash Iron & Steel Rolling Industries was a dealer registered under the Bombay Sales Tax Act, 1959, and was dealing in the business of manufacture and sale of bars, billets and rods of iron and steel as manufactured out of iron scrap. The assessee, namely, M/s. Subhash Iron and Steel Rolling Industries, had purchased iron scrap locally from registered dealers and had manufactured and sold the said bars, billets and rods during the above year of account. The iron scrap purchased by the assessee as raw materials were goods specified in entry 3 of Schedule B, Part I, to the Bombay Act, but ev