assessee also filed
the comparative statement showing increase / decrease in gross profit / loss and
percentage increase / decrease in gross profit / loss ... term of percentage of expenditure and turnover. The learned Counsel
for the assessee stated in the relevant year the percentage of expenditure is at
minus
turnover has increased from Rs.7.43 crores to Rs.11.15
crores which could be achieved only a competitive rates thereby
decreasing ... addition, I agree with the appellant that the
increase of turnover is due to non-disclosure of work-in-progress and no
other major defects
turnover of Rs. 15,31,53,579/- which is an extremely large
percentage.
(iii) No reasons have been given for decrease in freight
receipts this
Assessing Officer
further found that the turnover relevant to financial year
2009-10 increased 42% as compared to turnover in financial
year 2006-07, whereas ... consumable stores increased only
by 12% and electricity consumption decreased by 10% in the
same period. The assessee made a detailed reply to the
apprehension
written submission
about decrease in US dollar or its any effect on the G.P.rate, the
turnovers and GP rates of previous 2 years
survey
action in the year under consideration but the NP ratio has
decreased. The Appellant did not furnish any details of survey or
the statements ... income and its impact on Net profit
with respect to expenditure and turnover. Infact, it is a common
4
ITA No.102/GTY/2024
Lotus
rate has decreased from 22.45% in the previous
assessment year to 13.89% during this assessment year.
However, the turnover has increased from Rs. 1.64 crores
that the turnover has increased from 48307984 to 83991597.
4
ITA NO. 380/Del/2012
However, the gross profit ratio has decreased from
regard submitted
following chart showing the turnover/gross profit and GP ratio as under:-
Sl.No. Assessment Turnover (Rs.) Gross profit G.P. Ratio (%)
Year ... increase in turnover
from 4.57 crore in AY 2004-05 to 5.54 crore in AY 2005-06 prices have
been decreased to ensure sales
basis of turnover. Reliance
has been placed on some decisions of the Tribunal in support of the plea for
applying turnover filter for selection ... risk taking capabilities in cases of high
turnover companies, which increase the margins with rise in turnover.
However, in the Tribunal decisions cited, no detailed
