diesel and electricity,
salary, PF, bonus and other items. Though the turnover had decreased,
the production was higher as shown by the higher closing stock ... establishment. Even though turnover did not increase, the closing stock
had increased and the GP rate had not decreased. In these
page 7 of the
assessment order that the total turnover cannot decrease due to
decrease in the booking rate. This is quite illogical
proof for coupons given to its staff and there was substantial
decrease in turnover also for the impugned assessment year when
compared to immediately preceding
that this is an
admitted fact that there is a suppression of turnover. Therefore, that
itself is sufficient reason for rejection of books of account ... books of account, the
admitted facts are that there is suppression of turnover. We find that
this sole reason is sufficient for rejection of books
account of sale of scrap @
0.2% of the turnover. This aspect we have already dealt
with while dealing with the appeal for the year ... because of
rice in turnover, without producing any material that profit
margin on sales had decreased during the year. Though,
there is no evidence regarding
Balrampur Chini Mills Ltd., Kolkata vs Assessee on 23 February, 2011
आयकर अपीलीय अधीकरण, Ûयायपीठ
turnover during the year is
Rs.11.58 crore and gross profit of Rs.1.23 crore showing G.P. @10.64%.
The turnover ... increased slightly as stated by the A.O. but colour & chemicals decreased
3 ITA no.3439/Ahd/2008
substantially. The appellant has stated that
current year it was Rs.62.46
lacs. This has decreased the GP in the current year.
The Ld. CIT (A)'s findings ... sister concern and the fact that there is a huge fall
in turnover from Rs.19 crores to Rs.12 cores which remains
unexplained
Sh. Satyaveer Singh Kothari, ... vs Department Of Income Tax on 17 November, 2011
IN THE
Nasir Khan, J. Mahadik, Mumbai vs Department Of Income Tax on 15 November, 2011
IN
