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gone down only as a percentage of the turnover which had increased, there was no decrease In absolute terms. Without taking all these facts into

other contentions regarding decrease in direct cost to the extent of Rs.193.41 lakh and increase in total turnover etc. were never made before ... verification regarding these two claims in connection with decrease in direct cost and increase in total turnover. 5. We have considered the rival submissions, perused

locality, comparative profit rate of the assessee in respect of other years, turnover, etc. In this case, the Assessing Officer has not considered ... common knowledge that profit ratio will decrease automatically. In other words, the profit ratio will decrease when the turnover increases. By taking into consideration

last year balance at Rs.25,54,378/-. Thus, the advance had decreased during the year under consideration. Copies of all these accounts ... categorically observed that even in case of fall in turnover there may not be proportionate decrease in the salary as the regular employees cannot

Assessing Officer in estimating the rate of profit @ 4% of the turnover for the trading business without making any allowance for legitimate expenses incurred wholly ... rate of 4% on the ground that when the turnover increases, GP rate decreases. Having regard to all these facts, we are of the view

total turnover of Rs.6,15,15,472/-. The Assessing Officer produced following chart for comparison:- Year Turnover Gross Profit G.P. margin ... consumption was at Rs.85,89,851/-. Total turnover on the other hand had decreased. The AO required the assessee to give details

there was increase in manufacturing expenses by 1.92% whereas there was a decrease of cost of goods sold by 1.41% and thus there ... this year and production of last year but the turnover has been decreased substantially which has been stated because of fall in selling rate

During the assessment proceedings the AO found that the turnover of the assessee has decreased as compared to the preceding year, however, indirect expenses were ... found that expenses incurred in the preceding assessment year were 2.89% on turnover but in the assessment year under appeal

wages to cover the discrepancies. He observed that the turnover of the assessee had decreased from 20.19 crores to Rs.6.95 crores

fact that the turnover of the assessee in year under consideration has not increased as compared to last year but has decreased