explain the decrease in the net profit, the assessee submitted that the same was
due to fall in the turnover and increased input costs ... that there was decline in the net profit rate
due to decreased turnover cannot be accepted. I find that the AO after considering the reasons
income is
assessed at the rate of 3% of the sales turnover of the current year in the light of
book profit declared ... last year. It is commonly observed that when turnover is
increased the profit margin is generally decreased. The assessed income of the
assessee
work-in-progress in its
balance sheet and there is also increase/decrease in inventories
in its profit and loss account and under the head ... seen
that this company does not pass the test of 75% export turnover
which is used as a filter by the TPO himself. This company
Vodafone India Services P. Ltd, Mumbai vs Assessee on 10 December, 2014
Income Tax Appellate
Hind Rectifiers Ltd, Mumbai vs Department Of Income Tax on 31 July, 2014
आयकर अपील
Tata Iron & Steel Co Ltd, Mum vs Assessee on 21 February, 2014
आयकर अपीलीय
involved in the forward contract (FC) is more than 100% of the turnover of the
assessee,that FC were not relatable to specific bills,that ... foreign exchange, if the spot price of rupee against foreign exchange increases/ decreases then
the assessee may make profits or suffer losses
Capgemini India P.Ltd, Mumbai vs Assessee on 21 November, 2014
1
Capgemini India Private
