year was 10.98% of the turnover, in the
impugned assessment year it has increased to 38.70% of the
turnover. He also found that major portion ... learned
Commissioner (Appeals) observed, though, there is decrease in sales
4
Amersey Exports Pvt. Ltd.
turnover compared to the preceding assessment year, however, there
reconciliation that for F&O reconciliation of turnover as per books with
turnover as per Form No.10DB and Trade Files both are considered ... assessee recorded turnover upto 31-03-2009 it would have resulted in to decrease
in profit by Rs.69,078/-, hence there remains no question
earlier year. Further, the labour charges as a
percentage of turnover have also decreased to 87.87% in the current
year as compared
shows turnover of `.131,62,14,084/-.
Other income of `.1,35,31,994/- and decrease in stock of
`.3,83,12,047. note
turnover was abnormally high for the year under
consideration, sharp decrease in the turnover for F.Y. 2016-17 and also
sharp increase
allowed. He
further stated that there is a decrease in the production and turnover
and therefore the Assessee by taking training had no business
benefit
paid as lumpsum, therefore the same can
increase or decrease on the basis of turnover.
5
6.3 I find that various decisions relied
there was increase in manufacturing expenses by
1.92% whereas there was a decrease of cost of goods sold by 1.41%
and thus there ... this year and production of last year but the turnover has
been decreased substantially which has been stated because of fall in
selling rate
total turnover of Rs.6,15,15,472/-. The
Assessing Officer produced following chart for comparison:-
Year Turnover Gross Profit G.P. margin ... consumption was at Rs.85,89,851/-. Total turnover on the
other hand had decreased. The AO required the assessee to give details
During the assessment proceedings the AO found that the
turnover of the assessee has decreased as compared to the
preceding year, however, indirect expenses were ... found that expenses
incurred in the preceding assessment year were 2.89% on turnover
but in the assessment year under appeal
