such
the amount of commission expenses decreased in the year under consideration
which was paid against the turnover of Rs. 2633.58 lacs for the year
also has a very high turnover as compared to the assessee and
also fails the quantitative filter of : turnover less than Rs. 1000 crores
applied ... order.
The turnover of Engineers India Ltd. is stated to be 2656 crores as against
the turnover of only Rs.290 crores of the assessee
2005 in his second remand report.The assessee further argued that
turnover computed by the AO was erroneous,that the figures reflected in the achievement ... part of the turnover
for those years.The AO estimated sales adopting a particular formula( i.e.20% increase or
decrease in the sales figures
turnover returned for failure of the assessee to substantiate the same by books/purchase invoices the Assessing Officer determined the figure of turnover ... increase or decrease in the figures of sales of similarly situated traders. Though the order refers to the figure of turnover
Similarly, it was submitted that notwithstanding the Annual Turnover and the
Earnest Money Deposit Criterion, the terms of the impugned tenders allowed
all prospective bidders ... Annual Turnover requirement had been reduced from
INR 30 crore to INR 18 crore, whereas the EMD requirement had been
decreased from INR 35 lakh
turnover, gross profit
& its % for three previous years along with reasons
for fall/fluctuation in GP/ GP Rate, including
justification for increase/ decrease ... Return filed with
VAT Deptt. If there is any difference in the turnover VAT Return for Sales filed 491-591
reported
financial cost which
increased from 4.91% of Turnover in A.Y. 2011-12 to
5.91% of Turnover in A.Y. 2012-13. The Long Term ... Fall in GP Ratio 3.08%
4.25%
Less: Decrease in Depreciation (-)0.04%
Less: Decrease in Other Expenses (-)0.25%
Net Profit Ratio
increase of turnover and manufacturing activities as
against job work charges and due to flood gross profit has marginally
decreased. However, ld. Assessing Officer ... ignored some important facts which needs consideration in
adjudicating this issue:-
(1) Turnover of the assessee has more than doubled in Asst. Year
cent on the reasoning that since the turnover of the assessee has tremendously increased in this year, the application of last year ... turnover does not necessarily lead to fall in the GP rate but the other attending circumstances do lead to decrease in the GP rate
under: -
Comparative statement of gross profit and net profit ratios
Income Turnover 2008 2007 2006 2005 2004
Rs. Rs. Rs. Rs. Rs.
Sales ... Income/Decrease in stock