These revision petitions arise out of the common order passed by the Kerala Value Added Tax Appellate Tribunal, Ernakulam in TA(VAT) Nos.873/2018 and 395/2017, respectively.

2. The present revision petitions pertain to the assessment year 2013-14. The brief facts necessary for the disposal of these revision petitions are as follows:

On 29.10.2013, during the inspection of Quality Assay and Hall Marketing Centre (P) Ltd, M.G.Road, Ernakulam, the Intelligence Squad No.1, Ernakulam found two persons of Mahek Gold, Golden Plaza, 1^st Floor 93/95, Dhanji Street, Mumbai-400 003 with two bags containing gold ornaments weighing 20179.4 grams unaccompanied by any documents prescribed under Section 46 (3)(e) of the Kerala Value Added Tax Act, 2003 ('KVAT Act', for short). The value of the ornaments was estimated to be Rs.5,85,20,260/- and a penalty of Rs.58,52,026/- was imposed under Section 47 (6) of the KVAT Act. The assessee aggrieved by the order of imposition of penalty filed appeal before the first appellate authority, wh