G. Sivarajan, J.

The assessee is the revision petitioner and revenue is the respondent. The assessment year concerned is 1993-94. The assessee is a jeweller having main business place at Kunnamkulam and a branch at Kozhikode. There was an inspection of the main business place at Kunnamkulam on 2.6.1993 and inspection of the branch at Kozhikode on 21.2.1994. In the inspection conducted at the main business place it was found that the actual new gold ornaments available were 1557.300 grams and silver ornaments were 1627.500 grams. Two business slips were also recovered. Subsequent verification of the books of accounts with reference to the F.I.R. revealed shortage of 4.750 grams of new gold ornaments and excess quantity of 45.150 grams of silver ornaments. The seized slips also revealed unaccounted sales of gold ornaments of 17.200 grams. The inspection conducted in the branch showed the quantity of new gold ornaments at 11350.250 and old gold at 71.00 grams. Subsequent scrutiny of the books of accounts with reference to the F.I.R. revealed a shortage of 5.705 grams of new gold ornaments. The purchase turnover was worked out at Rs.29,847.40. Based on these discrepancies in