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Assessing Officer in estimating the rate of profit @ 4% of the turnover for the trading business without making any allowance for legitimate expenses incurred wholly ... rate of 4% on the ground that when the turnover increases, GP rate decreases. Having regard to all these facts, we are of the view

reflected G.P. of Rs.42,56,225/- @ 8.42% on the total turnover of Rs.5,05,71,362/- for the year under consideration ... against G.P. of Rs.26,64,364/- @ 14.06% on the total turnover of Rs.1,89,45,856/- in the preceding assessment year

Techbooks International Pvt. Ltd., ... vs Assessee IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH '

Maksons Finechem Pvt.Ltd.,, Bharuch vs Department Of Income Tax IN THE INCOME TAX APPELLATE