cent on the reasoning that since the turnover of the assessee has tremendously increased in this year, the application of last year ... turnover does not necessarily lead to fall in the GP rate but the other attending circumstances do lead to decrease in the GP rate
ruled out. The contention
of the assessee that the rate of commission decreased with
much higher volume could have been taken to a logical
conclusion ... rate of such commission
suffered a dip with the increase in turnover.
11. This fact can not be lost sight of that we are dealing
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Equivalent citations: (2005)97TTJ
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ORDER
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M/S. Banaras Beads Ltd. & Ors vs M/S. New India Assurance Co. Ltd
