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In the proceedings before me, the assessee has submitted that it had filed all details vide letters dated 13.11.2014 and 03.03.2015. I have gone through these letters but they only show that request was made that books of accounts and results should be accepted but no details of books maintained and produced has been mentioned. The AO's rejection of books of accounts is thus upheld. Now coming to the gross profit percentage adopted by the Assessing Officer, it is true that right from assessment year 2008-09 the gross profit percentage is more than 5%. However, in A.Y. 2011-12 the gross profit percentage is about 2.48% on a turnover of about Rs. 18 crore and in the relevant year the turnover has decreased to about Rs. 7.5 crores. The Authorised Representative in the present proceedings has submitted that due to recession in the market, the turnover has got rightly reduced and this also could be maintained only by reduction in selling price. While it is true that in the previous years, the gross profit percentage has been better than 5% but in those years the turnover was more than double, than in this year, which indicated that the business was doing well. In the current year there is drastic reduction in the turnover and scale of business and considering that the Gross profit percentage in the previous year was only 2.48%, it will be reasonable to estimate the same at 4% of the turnover for this year."