than this year and this year there is decrease in
7 ITA No.724/Chny/2018
turnover. According to him, the CIT(A) as well
annual
report, the company experienced losses due to decrease in
turnover, provision for doubtful debts and change in accounting
procedures. Further, as per the annual
filed the details of the Turnover from A.Y.2015-16 to
2018-19 along with the turnover made during the festival season of Dasara ... Therefore, the
ld.AR contended that the very decrease in turnover on year on year basis itself
shows that there is no bogus sales
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
proof for coupons given to its staff and there was substantial
decrease in turnover also for the impugned assessment year when
compared to immediately preceding
fictitious purchase effected in
the books would definitely decrease the profit or the turnover of the
assessee considerably. Therefore, for the purpose of estimating
assessment
proceedings, assessee was asked to explain decreasing in GP when
there was an increase in turnover. It was also observed by the AO
that
same. The assessee is engaged in silk saree trading and achieved turnover of
Rs.1,66,79,636/-. The AO, in an arbitrary manner, accepted ... very next AY there is a decrease in the sales
turnover and consequently, the cash deposit would also be less in comparison
to the subject
allowed. He
further stated that there is a decrease in the production and turnover
and therefore the Assessee by taking training had no business
benefit
sustaining the assessment of business
income at 8% of the total turnover reported at Rs. 2,78,28,509/-
amounting ... total turnover was
arbitrary and wholly unjustified and further ought to have
appreciated that having not taken note of the increase / decrease
reflected
