Document Fragment View
Fragment Information
Showing contexts for: turnover decrease in Ito 22(1)-2, Navi Mumbai vs J V Chem (India), Mumbai on 24 June, 2019Matching Fragments
As it is quite clear from the above table, gross profit margin were squeeze on account of increase in expenses, hike in price of goods procured for trading and the same hike could not be pass on to the customer due to stiff competition , hence no increase in margin on turnover, hence there is decrease in the Gross Profit margin."
6.8. We have considered rival contentions and perused the material on record. We have observed that the assessee is in the business of trading in chemicals and survey action u/s. 133A was conducted by revenue on 24.02.2009. We have observed that despite increase in turnover, the assessee is consistently showing a low GP ratio over years and its GP ratio is consistently falling for the last three years, the details of which are as under:-