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been able to explain as to why the sales price has decreased. The turnover in A.Ys.2005-06, 2006-07 and in the current ... considering the overall fall in GP rate and the fact that decrease in sale price is totally unexplained, the addition made

Commissioner vs Mitsu TAXAP/658/2009 11/ 12 ORDER IN THE HIGH COURT OF GUJARAT

John Fowler (I) P. Ltd., Mumbai vs Assessee IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI

available on record the net GP ratio is applied to the total turnover as against the GP ratio as declared by the assessee ... applying GP rate of 3% on Rs.3,62,73,876/- total turnover of Rs.1,20,91,29,205/- GP shown by the assessee