observed by
the A.O that the comparative figures of the turnover and gross profit of the
company were as under ... Parbati Scrap Processor Pvt. Ltd.
ITA No. 205/RPR/2019
A.Yr. Turnover Gross profit G.P rate
comparables deserves to
be excluded on application of upper turnover filter.
Sl. Turnover
Name of the Company
No. (in crores)
1 Exilant Technologies ... upper limit on the turnover while selecting the companies
comparable. In this regard, we note that, application of turnover
filter is a relevant criterion
liquor remains
more or less the same and has a tendency of decreasing with the increase in
prices due to social and economic reasons ... cases in liquor business in the AY
2016-17:-
Name of firm Turnover Gross Gross Net N.P.%
profit profit % profit
Umesh Ashok Joshi
also drew attention of this bench to a table
wherein the turnover of the comparables were listed in the
decision relied by him in case ... upper
limit on the turnover while selecting the companies comparable.
In this regard, it is submitted that application of turnover filter is
relevant criterion
work in progress or addition
made to fixed assets, Mismatch in sales turnover reported in audit report and
4426.Del.2018
M/s Modern Paper ... shown total turnover of Rs. 336,61,83,231/- thereby having a Gross Profit of
23.8% as compared to the total turnover
Large cash deposit during demonetization and
abnormal increase in sales with decrease in profitability compared
to preceding previous years". Accordingly statutory notices ... course of the assessment proceedings, the
Assessing Officer noted that the turnover of the assessee for the
year is 26,22,34,894/-. The assessee
appellant, it is noticed that the appellant has substantially
increased his turnover of jewellery segment from Rs. 8,23,17,258/- in the earlier year ... from the said business strategy on the ground that there
is substantial decrease in the profit margin and traders in the similar trade are declaring
which
Page 5 of 8
ITA No. 2255/Hyd/2018
goes on decreasing year after the year. Generally, in the initial years it
would ... crores, Rs.
18.97 crores and Rs. 5.25 crores on a turnover of Rs. 46.82 crores, Rs. 60.52
crores & 41.03 crores for the assessment years
M.K. Rajagopalan vs Dr. Periasamy Palani Gounder on 3 May, 2023
Author: Dinesh Maheshwari
Amd India Private Limited, Bengaluru vs Acit, Circle-1(1)(1), Bangalore on 26 June
