that
turnover of the assessee in the assessment year under
appeal is higher as compared to earlier year, but, there is a
substantial decrease
value at end of August,
2013 and only around 0.7% of the turnover of the financial
year ending March31, 2013. This cannot be termed ... small increase of 0.10 paise and on September 4,
2013 it decreased of Rs.0.30 paise. Thus, the disclosure of
the information
range and rise rapidly, stays there for a while and then
decreases rapidly. This makes a bell shaped pattern. The A.O. on page ... financial credentials as the company
concerned has almost no fixed asset, no turnover, no profitability and do not pay
taxes. Hence, such companies were designed
value'' such as GST/Sales Tax/VAT on Works
Contracts, Turnover Tax, Labour welfare Cess/tax, service tax
and like but excluding Income ... receipt of
tenders shall be reimbursed to the Contractor and any decrease
in percentage rates of ''taxes/GST directly related to contract
value
M/S. Acer India Private Limited, ... vs Deputy Commissioner Of Income Tax, ... on 10 May
then it rises rapidly, stays
there for a while and then it decreases more rapidly. Thus trade pattern
makes a bell shape.
..................
Apart from that ... share
movement pattern. Almost all the companies have no fixed asset, no
turnover, no profitability and they did not pay taxes. It shows that these
sale figure is computed on the basis of
decrease in stock. For these reasons Ld. A.O rejected the books
results and in view ... Taxman 384 (M.P) estimated the
net profit @ 3.5% on the total turnover for the year. Ld. A.O also
gave instances of other assessee
then it rises rapidly, stays there for a while and then it decreases more
rapidly. Thus trade pattern makes a bell shape. In support ... that all the companies have no fixed asset, no turnover, no profitability
and they did not pay taxes. So according to AO, it shows that
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
herewith. Practically, the first Financial Year is 2008-09, wherein
there is turnover of Rs. 5,19,33,745/-. During this Financial Year, the
assessee ... secured loan is from Syndicate Bank, CC Account and WCDL
(Working Capital Decreasing Limit) meaning thereby that this loan