arguments of the
counsel for the appellant. The turnover of the
appellant during the previous year was R.8.89
crores ... fuel expenses were Rs.8,23,723/-.
This year, the turnover has decreased
substantially to 2.26 cores whereas the fuel
expenses have gone upto
submitted to him that all indirect expenses had been allocated on turnover basis. The directors' remuneration was allocated on time basis, which was equal ... actual basis. However, the AO reallocated all the expenses on turnover basis, leading to decrease in profits of the eligible unit by an amount
services and any increase or shortfall of the actual turnover would proportionately increase or decrease the portion of cost to be absorbed by the company
years
the percentage of wages to turnover has been from 2.59% to 5% depending on the
total turnover. It is seen that in accounting year ... turnover of 5.28 crores which shows that in spite of
a huge increase in turnover the wages have actually decreased compared to the
last
fluctuation arising at that time will have any relevance to the turnover
reported for the previous year in which the sale took place ... should be the value
recorded in the books and any increase or decrease in exchange
fluctuation on the bill amount is only a subsequent event
continuously loss incurring company with a very small volume of turnover. So a sudden rise in the price of an illiquid scrip in a short ... increasing prices and effected sales through the same sub-broker at decreasing prices within a short span of time. I, therefore, agree with the finding
Punjab Stainless Steel Industries,, vs Department Of Income Tax on 28 February, 2006
IN THE
Bimal Kumar Singhania vs Deputy Commissioner Of Income Tax ... on 6 January, 2006
Equivalent citations
In Re: Nageshwar Investment Ltd., ... vs Unknown on 31 May, 2006
ORDER
G. Ananthraman, Member
rate for the AYs. 2001-02 and
2002-03 ) on the turnover of the post survey period. Inter alia, the AO relied
upon decision dated ... compared to the other three concerns while in BP Textiles ,there was
decrease. GP rate in BP Textiles for the whole year was 17.97%.Admittedly
