rate declared by the assessee was 9.72% when
the turnover was increased substantially to Rs. 123 crores. The NP
rate declared by the assessee ... Thereafter the net profit again was decreased by about 16% to 0.52%
in A.Y. 2009-10 while the same was increased substantially by about
fail. The petitioners projected their case as if that 3% of the turnover of the concerned shop is fixed as the licence fee for every ... careful reading of the tender conditions, it is clear that the turnover for the month of October, 2017 is being taken for consideration for calculating
fail. The petitioners projected their case as if that 3% of the turnover of the concerned shop is fixed as the licence fee for every ... careful reading of the tender conditions, it is clear that the turnover for the month of October, 2017 is being taken for consideration for calculating
surcharge on their taxes. For small businessmen and companies with annual turnover of Rs. 50 crore, the tax liability has been reduced from ... forward, as envisaged by the demonetization drive. To reduce tax evasion and decrease dependence on cash, cash transactions over Rs. 3 lakh have been banned
assessment year under consideration though there was
an increase in the turnover but the gross profit had declined substantially
which was accepted ... assessment proceedings without inquiring into the
factors which could have impacted the decrease on the rate of gross profit and
net profit as compared
Company, Jhunjhunu
Comparative % of Contract Expenses
Financial Year Turnover Contract % of contract
Expenses expense as to
turnover ... percentage of such expenses as proportion to
the total receipt has decreased from 89.95% to 89.25%.
However, keeping in view the fact that the books
volume of business and therefore the margins of the assessee had
decreased. The Ld. AR submitted that net profit rate of 4.45% was
declared ... appraisal of value of the contract, the Ld. AR submitted that the turnover
during the year had increased to Rs.11.18 crore as against
various reasons such as
Increase in the raw material cost, decrease in market price of
finished product......
6.4 Looking into the facts of the case ... record anything to the
contrary. Further, it is also noted that the turnover of the
appellant increased substantially in comparison to preceding two
years. Moreover
civil contract. The assessee was
asked to produce comparison chart of turnover, gross profit and net profit
with last year of the business ... Assessing Officer required the assessee to
explain the reason of decrease of the ratio in gross profit and net profit.
Since, the assessee
being reported under TN VAT. Subject to the
assessee thus exhibiting the turnover of . 87.48 lacs as scrap sales, i.e., as a
component ... difference - to that
extent, where not reduced, similarly, from the turnover in the VAT return/s.
After all, the return of goods would only
