Profit was due to increase in the
cost of raw material and decrease in sale realization. We
find that the AO did not give ... there is increase in turnover, therefore the gross
profit ought to have been increased instead of
decreasing. We are of the view that such reasoning
assessee has submitted
that the turnover of the assessee is Rs.86 Crores whereas the turnover of the
Laxmi Machine Works Ltd. is Rs.1745 ... 7861/Mum/2011) and submitted that while
considering the issue of turnover filter in case of ITES the Tribunal observed
that the concept of economy
further
argued that the sales turnover had increased by 14.18% but the
manufacturing sales had in fact decreased by 4.94% as the appellant had
begun
which is 80% of turnover which is practically
impossible in such business. Assessee's income has decreased in the
subsequent years and deduction
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
turnover of Rs. 15,31,53,579/- which is an extremely large
percentage.
(iii) No reasons have been given for decrease in freight
receipts this
details have been
filed and during the year, manufacturing and sales have decreased but the
expenses on repairs to plant & machinery, building and others ... direct
correlation with the increase or decrease in sales and therefore, merely on
this basis that the turnover has gone down, the repairing expenses cannot
defendant illegally decreased the
plaintiff's credit limited to Rs.1.5 lacs which resulted into a negative impact on
the turnover
consumption of raw material is more the gross profit ratio
would decrease. But in the case of the assessee the results are
reverse when ... presumed that in
case the .turnover of any business goes up, the GP always goes
down and if the turnover goes down the GP will
from the year 2004-05 including the details of the
privilege fee, turnover and taxable income of the petitioner,
which is indicated in a Tabular ... clarity
and by comparison, the turnover of the petitioner. During the
period from 2004-05 to 2011-12, the turnover of the petitioner
has increased
