material cost
and decrease in total turnover. It is true that the turnover has decreased
by about 24% and there was increase in the price ... reference was due to decrease in turnover for the year under
reference. The turnover of the assessee firm decreased from
when the turnover of the company was Rs. 4,11,489. Gradually by dint of his labour and efficient administration, the turnover of the company ... save and except in 1966 when the turnover decreased to Rs. 11,26,612 due to limitation of import, the salary of the manager remained
company decreased to Rs.3.46 crore and profit
decreased to Rs.1.24 crores. In financial year 2014-15, the
turnover further decreased ... investor would buy the shares at
such a higher price with decreasing turnover and profit of the
company and it could only be possible
comparable. However, the TPO had excluded this comparable merely because its
turnover decreased from the previous year from Rs.12.70 crore ... concerned, we
find the TPO excluded this company merely because its turnover decreased from
Rs.12.70 crore the previous year
justification of increase in this expense was found
acceptable while the turnover was decreased.
21.2 Submission made by Ld. Counsel for the assessee ... expenses incurred by the assessee
during the year even though the turnover has
decreased, but the increase in price is beyond the
23
Anant Steel
that
in the earlier years the turnover was very high, but subsequently
the turnover has decreased drastically and therefore, fixed cost
could not be reduced ... fact on record to pin point that fixed expenditure coupled with
decreased turnover has led to decrease in profit.
5
M/s. S.K. Jain
this preceding year,
Gross profit to Turnover ratio decreases / reduces from 32.60% to 17.27% this
preceding year. Simultaneously Net profit to Turnover ratio decreases / reduces ... respectively when the purported
loan has been repaid though the turnover figure has been changed from
last
three years, the AO observed that there was decrease in turnover during the year
but there was slight improvement ... last three years it is seen that there is decrease in turnover during the
year but there is slight improvement in GP and NP rate
this A.Y. he has shown the GP of 12.57% on
decreased turnover of Rs. 39,45,037/-. It is a generally accepted
principle that
returned a gross profit of Rs 10,56,671/-on a sales turnover of Rs
1,76,11,175/- giving a GP rate ... better than the previous year of 6.06% and thus even on
decreased turnover, the appellant was able to report a GP rate
