Finolex Cables Ltd.,, Pimpri vs Assessee on 11 January, 2012
IN THE INCOME TAX APPELLATE
Dy. Commissioner Of Income Tax, Kota vs Motion Education Pvt. Ltd., Kota on 31 October
Dy. Commissioner Of Income Tax, Kota vs Motion Education Pvt. Ltd., Kota on 31 October
Birendra Singh Nirbhay,Sirsi Road ... vs Ito Ward 3(1) Jaipur, Ncrb Income Tax ... on
turnover,
therefore, no addition can be made without any adverse material / evidence
available on record. It is further submitted that assessee's turnover ... fact that due to worldwide recession the price had fallen coupled with decrease
in the exchange rate of US Dollars which has also affected
About decrease in gross profit ratio, the ld.PCIT noticed that during
the year under consideration, the assessee -firm has total turnover ... decrease in gross profit ratio, submitted by the assessee, should not be
accepted because during the year under consideration, the assessee- firm has
total turnover
About decrease in gross profit ratio, the ld.PCIT noticed that during
the year under consideration, the assessee -firm has total turnover ... decrease in gross profit ratio, submitted by the assessee, should not be
accepted because during the year under consideration, the assessee- firm has
total turnover
evident from the above table that the total cash deposits have decreased as compared
to the preceding year. The only reason for doubt ... assessee firm is as under:
Particulars AY 2016-17 AY 2017-18
Turnover 4,32,77,865 4,66,41,222
Cash deposits
against 91 % in the immediately preceding year. Thus, there appeared an abnormal
decrease in the yield of finished products during the year under consideration ... copper scrap in the lesser turnover where as in the current year
on the increased turnover it has purchased lower copper scrap of 11.65 lakh
company have decreased by 69%. But, fact remains
that the annual report of the company is available in public domain
and its turnover has marginally ... change in financial results and the
industrial sales of the company has decreased by 69%, when
compared to previous financial year. The Ld. DRP further