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
last
three years, the AO observed that there was decrease in turnover during the year
but there was slight improvement ... last three years it is seen that there is decrease in turnover during the
year but there is slight improvement in GP and NP rate
view the fact that
the expenditure has doubled, however, the turnover has decreased, the
Assessing Officer made disallowance of 5% on this amount being ... 2013
charges has doubled and the turnover has decreased, is factually incorrect.
In the assessment year 2008-09, these expenses were debited under two
heads
purposes of the business but the resultant increase in the turnover is insignificant,
we do not see any such provision in the income ... questioned allowance of
these expenditure on the basis of increase or decrease in turnover or on rendition of
services. In nutshell for assessment year
Factor for
2011 -12 2008 - 09 to Increase /
2010-11 decrease in Net
Profit
Turnover net of Excise ... cost
% over Turnover 13.64% 13.35% 0.29%
Other Expenses 523,418,909 359,513,497
% over Turnover 17.72% 16.29% 1.43%
Total decrease in Net Profit
lump sum, therefore,
the same can increase or decrease on the basis of
turnover.
5.1 In view of the above discussion, I agree with ... lump sum, therefore,
the same can increase or decrease on the basis of
turnover.
5.1 In view of the above discussion, I agree with
furnish any justification of these
expenses whereas the turnover of the assessee had decreased in comparison to
the last year. The AR during arguments before ... obstructed for a long
time, therefore, there was a decrease in the turnover of the assessee in
comparison to the previous year and the cause
analysis of the record, learned Assessing Officer found that though turnover
is decreased in comparison to last year but expenses on account of salary
should
not be treated as unexplained money especially as the annual
turnover had decreased. The assessee responded vide
submissions dated 27.12.2019 explaining that assessee ... cloths,
2
farm crops, miscellaneous goods and petrol pump the
breakdown of turnover in the financial statements was
reproduced. The assessee had tabulated the difference
