3736/Del/2023
• As per the submissions of the assessee, the turnover growth of his
business is driven by over the counter cash sales ... assesse has shown
a decrease in gross profit ratio from 26.32% in FY 15-16 over a turnover
result of which business
decreased. To prove this pleading, it was necessary for the
plaintiff to produce details of the turnover of the plaintiff
during
during the last year last year as % decrease vis-
year year as % of of turnover à-vis last year
turnover
12. And the assessee
expenditure of wages with that of previous year and its corresponding
turnover. The A.O. had not pointed out any specific defect in the wages ... contrary to the finding of A.O.
the expenditure had decreased and the turnover has increased. It was
further submitted that the assessee has deducted
income from rent has not decreased but there are chances of its increase in case the turnover of the Jain Glass Works (P.) Ltd., goes ... income from rent is not decreased but there are chances of its increase in case the turnover of the General Glass Works Pvt. Ltd., Firozabad
sales
turnover Certificate, after 2000 onwards its sales
turnover is increased and not at all decreased.
16 / 21 O.S.No.25469/2008_Judgment
Defendants
Profit/Net Profit rate of the turnover of
Rs.35.10 crore can be applied to the turnover of Rs.355.82 crore
considering ... Retail Vs. Wholesale and other commodity
transactions where the profits decrease as the turnover
increases. The huge difference in the turnover of current vs.
Preceding
commission expenses when in fact, the total
decrease in sales is attribution to reduction in export turnover
only whereas, the domestic sales within India
with
independent auditor's report. The turnover of the assessee excluding other
income and increase/decrease in stock, for the year under consideration ... bank statements were already made available and are again being furnished.
The turnover of the assessee in the year under consideration
account.
The AO observed that while the decrease in the turnover was
18.82%, the gross profit has fallen down to 46.69% which is
not justifiable
