that this is an
admitted fact that there is a suppression of turnover. Therefore, that
itself is sufficient reason for rejection of books of account ... books of account, the
admitted facts are that there is suppression of turnover. We find that
this sole reason is sufficient for rejection of books
assessee has submitted
that the turnover of the assessee is Rs.86 Crores whereas the turnover of the
Laxmi Machine Works Ltd. is Rs.1745 ... 7861/Mum/2011) and submitted that while
considering the issue of turnover filter in case of ITES the Tribunal observed
that the concept of economy
Learned AR
has also argued that due to substantial increase in turnover there was
a slight deduction in the profit margin which was offered ... both the sides, we are also of
the view that the marginal decrease in the gross profit ratio was
properly explained by the assessee; hence
further
argued that the sales turnover had increased by 14.18% but the
manufacturing sales had in fact decreased by 4.94% as the appellant had
begun
that assessee has not
explained the decrease in GP from 8.45% to 5.88%. Only apparent
explanation is that turnover of the assessee has increased three
fact that the turnover of the
assessee in year under consideration has not increased as compared to last
year but has decreased
which net profit rate decreased.
7. We find that during the course of appellate preceding the
details of turnover of profit of the 3 years ... been shown on the gross turnover of
Rs.18.62 crores but surprisingly during the A.Y. 2012-13
turnover has increased toRs. 45.20 crores
loss is in respect of current year's turnover or earlier year's
turnover. Since there is no finding of authorities below ... same is
related to turnover of earlier year then the same should be ignored because in
that situation, the corresponding turnover is not forming part
which is 80% of turnover which is practically
impossible in such business. Assessee's income has decreased in the
subsequent years and deduction
account of sale of scrap @
0.2% of the turnover. This aspect we have already dealt
with while dealing with the appeal for the year ... because of
rice in turnover, without producing any material that profit
margin on sales had decreased during the year. Though,
there is no evidence regarding
