Shree Balaji Industires , Khanna vs Income Tax Officer, Khanna on 3 January, 2017
IN THE
instead of increase
in the expenses, there should be decrease in the expenses. The assessee's
explanation was as under:
"Your honour ... sales were of
the order of Rs.73.47 lakhs, the turnover during the year has increased more
than 50% as compared to last year
estimated the net profit at 1%
of the total turnover which resulted in an addition of Rs.7,74,655/-.
On appeal ... that the meter reading "all of a
sudden changes and shows decrease in the total coin in
and out in the meters". This
filed on
30.9.2008 declaring an income of `.2,76,245/- on a turnover of
`.3.05,16,751/- . The GP rate has been shown ... being
purchases reflected by the above TCS certificates) and therefore had
decreased GP to that extent. In reply, the assessee submitted that list
Jamnadas Morarjee Sec.Ltd., Mumbai vs Assessee
IN THE INCOME TAX APPELLATE TRIBUNAL
MUMBAI BENCH