company decreased to Rs.3.46 crore and profit
decreased to Rs.1.24 crores. In financial year 2014-15, the
turnover further decreased ... investor would buy the shares at
such a higher price with decreasing turnover and profit of the
company and it could only be possible
comparable. However, the TPO had excluded this comparable merely because its
turnover decreased from the previous year from Rs.12.70 crore ... concerned, we
find the TPO excluded this company merely because its turnover decreased from
Rs.12.70 crore the previous year
returned a gross profit of Rs 10,56,671/-on a sales turnover of Rs
1,76,11,175/- giving a GP rate ... better than the previous year of 6.06% and thus even on
decreased turnover, the appellant was able to report a GP rate
82Bang/2017
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expansion, the turnover increase/decrease should have been
compared with 3-4 preceding/succeeding years ... view of the
assessee's explanation of expansion, the turnover
increase/decrease should have been compared with 3-4
preceding/succeeding years.
The appellant
compared to 2
preceding years, there is also a substantial decrease in turnover as compared
to the immediately preceding year
consonance with increase in turnover for current year, it was
submitted that increase in the turnover may result in increase in GP in absolute
terms ... turnover, it results in decrease in GP %, due
to decrease in the margins, in order to achieve higher turnover. It was
submitted that reason
expenses reimbursed by
the Company were reasonable to the turnover of the Company
and decreased over the period of time. -The statement of shared
service ... expenses reimbursed by
the Company were reasonable to the turnover of the Company
and decreased over the period of time. The statement of shared
service
decreased by approximately 5.6% as compared to salary
expenses in FY 2011-12. As against the above decrease in salary cost. the turnover ... decreased by approximately 5.6% as compared
salary expenses in FY 2011-12. As against the above decrease in salary cost, the
turnover of the Appellant
previous years'
appellate order without ignoring the increase or decrease in turnover of
assessee company each year. The said addition was without taking care
Appellant only,
which is also evident from the substantial decrease in turnover during the
year under consideration.
4.3 The Ld. CIT(A) - 12, Chennai erred
