year
decreased to Rs.51378.17 Lacs from Rs. 54119.34 Lacs shown in the immediate preceding
year. Considering the decrease in gross turnover, the corresponding
year
decreased to Rs.51378.17 Lacs from Rs. 54119.34 Lacs shown in the immediate preceding
year. Considering the decrease in gross turnover, the corresponding
major reason for fall in GP was
a substantial increase in turnover by almost 50% from Rs.
60.71 Cr during the earlier year ... under consideration; that to achieve such an increase
in turnover, a business has to decrease its margins to
obtain much higher sales; that the primary
MUKESH KUMAR, Ludhiana
9
AY Turnover (Rs.) Cash Sales (Rs.) % Cash Sales Cash Deposited % Cash Deposit
(Rs.) wrt Turnover ... evident that the percentage of cash
sales to total turnover of the assessee has decreased in A.Y. 2017-18
compared to the previous year
under:
4
" 3.2 Regarding decrease in the gross profit and net profit though increase in
gross turnover as compared to the previous year ... compared to FY 2010-11. In reply to cause of decrease in net profit the
assessee submitted that it was mainly on account of provision
assessee has declared following trading results in the
earlier years.
A.Y Turnover Gross Profit GP Rate ... increase in turnover
6
has been achieved by reducing the sale rate of goods sold and margin of
profits thereon. Small decrease
Assessing Officer
further found that the turnover relevant to financial year
2009-10 increased 42% as compared to turnover in financial
year 2006-07, whereas ... consumable stores increased only
by 12% and electricity consumption decreased by 10% in the
same period. The assessee made a detailed reply to the
apprehension
excluding export turnover amounting to
Rs.81,39,65,243/- in respect of export oriented unit (EOU) from export turnover of
the appellant while calculating ... facts while confirming the
decision of assessing officer for decreasing profits exempted under section 10B of
the EOU's in as much
excluding export turnover amounting to
Rs.81,39,65,243/- in respect of export oriented unit (EOU) from export turnover of
the appellant while calculating ... facts while confirming the
decision of assessing officer for decreasing profits exempted under section 10B of
the EOU's in as much
excluding export turnover amounting to
Rs.81,39,65,243/- in respect of export oriented unit (EOU) from export turnover of
the appellant while calculating ... facts while confirming the
decision of assessing officer for decreasing profits exempted under section 10B of
the EOU's in as much
