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fact that the turnover of the assessee in year under consideration has not increased as compared to last year but has decreased

respectively from the total turnover being ITA Nos.637 & 645 to 647/Bang/10 Page 13 of 17 discount to customers while computing deduction ... leading to decrease in value of sales. Therefore, it is obvious that the trade discount has to be reduced from the total turnover. Thus, this

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

both the cases was same i.e. `.2,18,71,876/-. The decrease in profit in the revised return was due to increase in labour ... Assessing Officer had estimated the profits on the basis of 8% of turnover. However, the penalty was imposed because of the failure on the part

restricting the addition of gross profit at 9% on turnover as against 9.5% made by the AO. The assessee is in appeal challenging the order ... sores and spares by 1.07%, increase in labour charges by 0.99% and decrease in job charges per meter. The AO did not accept the explanation

total turnover of Rs.1,54,26,319/- as compared to 34.13% on a turnover of Rs.1,36,6,026/- in the immediately preceding ... stated that there was increase in manufacturing expenses by 2.07% and decrease in net margin on sales of satin ribbon by 6.25% and the cost

assessment was getting time barred. The A.O compared the turnover of the assessee in the preceding year vis-à- vis the expenditure like wages ... telephone, diesel expenses etc., from the point of view of increase or decrease in the said expenditure. So far as the disallowance of wages

yield and also justify as to how the yield of diamonds had decreased in the current year as compared to that in the earlier year ... remained almost constant however on the other hand there is a sharp decrease in the yield of polished diamonds. The appellant has not been able

decrease in average sale prices but no details of increase in labour cost was given. The AO noticed that GP rate was decreased from ... satisfactory explanation of such fall was given except showing that turnover has increased to Rs.7.49 crore from Rs.4.20 crores

although turnover has increased by almost 3 times there is a marginal fall of 2% in gross profit. However when the current year is seen ... turnover has increased only 2 ½ times the G.P has fallen by more than 50%. So the historical data of profit in appellant