observed that though the cash sales as compared to
the turnover were decreased from ... this case
that the ratio of cash sales to the turnover has decreased from 6.2% to 5.87%
which means there was no increase in cash
filed the details of the Turnover from A.Y.2015-16 to
2018-19 along with the turnover made during the festival season of Dasara ... Therefore, the
ld.AR contended that the very decrease in turnover on year on year basis itself
shows that there is no bogus sales
contended
that the assessee company has shown very normal income decreasing
export turnover as well. He argued that assessment year
Acit-1(1), Indore vs Kriti Nutrients Limited, Indore on 9 January, 2026
आयकर अपीलीय
2025
turnover has been increased but stock has been decreased. In
view of this, value of closing stock of Rs.23,49,500/- shown
with
independent auditor's report. The turnover of the assessee excluding other
income and increase/decrease in stock, for the year under consideration ... bank statements were already made available and are again being furnished.
The turnover of the assessee in the year under consideration
assessment
proceedings, assessee was asked to explain decreasing in GP when
there was an increase in turnover. It was also observed by the AO
that
selected for complete
scrutiny under CASS for the reasons:
i. Low turnover in comparison to outward foreign
remittance;
ii. Foreign remittance made to persons located ... explanation. The
Assessing Officer recorded that turnover increased from Rs. 84
crores to Rs. 109 crores, trade receivables decreased from Rs.
7.65 crores
sustaining the assessment of business
income at 8% of the total turnover reported at Rs. 2,78,28,509/-
amounting ... total turnover was
arbitrary and wholly unjustified and further ought to have
appreciated that having not taken note of the increase / decrease
reflected
reproduced below:
"Rate of gross profit earned on the turnover during the
financial year immediately before the date of loss
destruction or damage ... months prior to the loss the
GPR was 19.35%. By considering the turnover of six months of the
FY 2017-18 of the new unit
