2024
Assessment Year: 2017-18
Manish Kumar, Patna
decrease in profitability compared to preceding previous year".
Accordingly, notices ... assessee. Further, the
Assessing Officer computed income from business @8% on total
turnover/receipts of Rs.5,48,75,719/- and also added back
peculiar economic circumstances after giving
valid reasons were excluded.
(vii) Companies having turnover of less than 10 times and More
than 10 times o1 assessee ... available are rejected.
(xiii) Companies whose revenue is decreasing in last 3 years are
rejected
(xiv) Companies which are not having 12 months
receipt is suppressed.
Further, the appellant submitted that with the increase
in turnover, the assessee needed addition staff and space
which resulted in increase ... salary expenses.
Further the appellant submitted that another major
reason for decrease in net profit was the net balance of Rs. 8
lacs written
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