high as compared to
earlier years despite the fact that the turnover has decreased in
comparison to earlier years and accordingly book results were
rejected ... were called for with regard to
disproportionate expenses as compared with the turnover/sales. It
was further submitted that the AO only proposed to disallow
Percentage increase is 138.
(ii) Decrease in turnover over the preceding year's : Rs.1,94,80,818/- percentage
decrease is 11.7
(iii) Number ... produced for
verification.
(vi) Decrease in freight receipt over the preceding year's : Rs.1,62,558/- percentage
decrease is 2.9.
On analysis
certificate of the machinery was provided to
the AO. There was decrease in turnover from 2.19 crores to 1. 48 crores which
further suggested that
year under consideration
gross loss is shown at 28.27% of the turnover whereas in the immediately
preceding year, GP was shown at 13.64%. Thus, there ... sought to explain the fall on the ground that the
turnover has substantially decreased this year. Last year the turnover
loss at
Rs.39,10,774/-. The assessee on the total turnover of Rs. 10,36,80,512/- had
shown Gross Profit ... leading to reduction in G.P. ratio. Due to
sharp decrease in export turnover, there was decrease in overall profit margin. It
was pointed
Hero Motocorp Ltd., New Delhi vs Dcit, Circle- 11(1), New Delhi on 23 April
immediately preceding year. On a turnover of
more than 109 crores, this marginal decrease in my opinion is
insignificant and could be due to various ... then it
should also not be concerned with a minor decrease in the same
especially when, as in this case
fictitious purchase effected in
the books would definitely decrease the profit or the turnover of the
assessee considerably. Therefore, for the purpose of estimating
observed that besides decrease in the turnover m comparison to the last year, the telephone expenses have been increased tremendously After verifying the details
rate of 6.76% on turnover of Rs 114,52,126 which is better than G.P rate of
6.06% on turnover ... trend which is emerging is that though the turnover of the
appellant has decreased during the year, it is able to report
