turnover,
therefore, no addition can be made without any adverse material / evidence
available on record. It is further submitted that assessee's turnover ... fact that due to worldwide recession the price had fallen coupled with decrease
in the exchange rate of US Dollars which has also affected
against 91 % in the immediately preceding year. Thus, there appeared an abnormal
decrease in the yield of finished products during the year under consideration ... copper scrap in the lesser turnover where as in the current year
on the increased turnover it has purchased lower copper scrap of 11.65 lakh
last year. In appellate proceedings AR has not
filed proper justification for decrease in G.P. rate to 4.64% however I find that
GP rate ... higher side, GP rate of 20% of declared
turnover is applied. Assessee gets resultant relief. This ground of appeal is
partly allowed."
Ground
Tata Consultancy Services Ltd, Mumbai vs Asst Cit Ltu-1, Mumbai on 6 April, 2022
S&P Capital Iq (India) Private Limited ... vs Dy. Commissioner Of Income Tax , ... on
Rakesh Vaid, New Delhi vs Ito Ward - 62(2), New Delhi on 8 April, 2022
