same is as under:
1. Turnover of sales during F.Y. 2016-17 of the first three
month was decreased due to strike by jewelers ... there
is increase in total turnover by Rs. 23.04 Cr (increased by
39%) and out of the total turnover
stiff competition , hence no increase in
margin on turnover, hence there is decrease in the Gross Profit
margin."
6.8. We have considered rival contentions ... conducted by revenue on
24.02.2009. We have observed that despite increase in turnover, the
assessee is consistently showing a low GP ratio over years
Ess Ismail Merchant, Mumbai vs Jt Cit 13(3), Mumbai on 21 February, 2018
IN
shows that the turnover of the
company has increased by more than 10%
whereas expenses incurred under these heads has
decreased by more than ... these are revenue: expenses, then with the
increase in turnover the same should also
increase/decrease proportionately not
irrationally.
5.6 In view of the above
only but not taken any order.
Our R.K. Traders had shown turnover about 1.76 lakhs we have also filed audit
report and statement ... Traders in which we have shown all the
turnover which was above 1.76 lakhs.
2.2 Decreased in Gross Profit ratio:
As per our trading account
submitted to him that all indirect expenses had been allocated on turnover basis. The directors' remuneration was allocated on time basis, which was equal ... actual basis. However, the AO reallocated all the expenses on turnover basis, leading to decrease in profits of the eligible unit by an amount
assessee in the
earlier years and whether the turnover has increased or decreased?
and what are the profits shown by persons in the same line
books of results and estimated the profit @ 8% of the
total turnover thereby making an addition of
Rs.3,95,09,726/- without allowing ... this decrease is normal on account of significant increase
3
Vimal Khurana Pro. M/s. Royal Enterprises
ITANo.1312/Ind/2016
in the turnover which
view that these expenses are required to be deducted from the export turnover for the purpose of computing deduction under Section 10A . It is also ... proceeds received abroad. That did not mean that the export turnover had to be decreased by the amount of remuneration paid to the foreign professionals
since past several years, was not accepted since there was
decrease in the turnover of assessee company and also net profit before tax on
percentage
