ratio of the assessee was decreasing due to steep increase in the labour
charges and increase in the turnover, and the AO applied ... case it is noticed that the
turnover of the assessee was increasing year after year but there was decrease in
the net profit rate consistently
turnover of Rs. 3,90,72,000 by adopting a rate of 12.5%
profit on turnover. The turnover ... adoption of the turnover and given part relief to the
assessee firm by decreasing the percentage of profit from
12.5% to 6% on the turnover
rate at 5% on the total turnover by
keeping in view that there was slight increase in the turnover of the
assessee. Now the assessee ... that the decrease in the net profit rate in
comparison to the preceding year was on account of increase in the
turnover. It was further
Section 31 in The Companies (Management and Administration) Rules, 2014
31. Report on Annual General
decreasing. One of the
factors which might help the decision for increasing the retail outlets
in any particular area/locality could be the sales turnover
Jivraj Tea Ltd., Surat vs Department Of Income Tax on 28 August, 2014
आयकर अपील
explained that in the year under consideration the assessee has
made total turnover of Rs.36.85 cores and declared GP rate of
2.39%. However ... crores and GP rate of 1.49% in assessment
year 2006-07 and turnover of Rs.24.51 crores with GP rate of
2.55% in preceding
fluctuation arising 'at that time will have any relevance to the
turnover reported for the previous year in which the sale took
place ... value' recorded in the
books and any increase or decrease in exchange fluctuation on the
bill amount is only a subsequent event after
fluctuation arising 'at that time will have any relevance to the
turnover reported for the previous year in which the sale took
place ... value' recorded in the
books and any increase or decrease in exchange fluctuation on the
bill amount is only a subsequent event after
increase in prices of
raw material, increase in the cost of manufacturing, decrease in sale price
etc. He has cited a number of decisions ... coke by declaring the GP rate of
16.83% on increased sales turnover of Rs.481 lakhs as against the GP rate
of 9.43% on sales
