claimed that the expenses have decreased this year
in comparison to the preceding years but without
given comparative turnover figure of earlier years.
The appellant
year as the Directors gained experience in this line
of business. The turnover of the assessee company also
kept on increasing year after year. From ... gross profit from 10.3 % to 14.99 % showing that the
direct expenses decreased from year to year. No major
discrepancy was noted by the Assessing Officer
reasonable compared to earlier years and there is three times
increase in turnover from Rs. 1.65 crores to Rs. 4.52 crores. It
was also submitted ... conclusion, we are
reproducing hereunder the profit rate of earlier years :-
Turnover N.P. Before NP after NP Ratio
Depreciation Depreciation depreciation after
Ram Enterprises, Bhopal vs Department Of Income Tax on 2 August, 2011
1
IN THE
Lunkad Securities Ltd., Indore vs Assessee on 2 August, 2011
1
IN THE INCOME TAX