material cost
and decrease in total turnover. It is true that the turnover has decreased
by about 24% and there was increase in the price ... reference was due to decrease in turnover for the year under
reference. The turnover of the assessee firm decreased from
this preceding year,
Gross profit to Turnover ratio decreases / reduces from 32.60% to 17.27% this
preceding year. Simultaneously Net profit to Turnover ratio decreases / reduces ... respectively when the purported
loan has been repaid though the turnover figure has been changed from
this A.Y. he has shown the GP of 12.57% on
decreased turnover of Rs. 39,45,037/-. It is a generally accepted
principle that
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
erred in ignoring the most vital facts to the effect that turnover
decreased drastically from 16.93 crores during FY 2015-16 to 6.28 crores during
rate chart submitted by the appellant, it is seen
that the turnover has decreased from Rs. 3,53,30,516/- in the
immediately preceding assessment ... merely using her estimations and
observing that since the turnover has decreased the profit was required
to be increased.
He also submitted that
years of the appellant shows that turnover in the current
year is similar to turnover in the assessment year 2009-10 and in that
year ... DCIT, Jaipur
similar turnover the N.P. was 2.30%. Further, the expenditure has
increased even when the turnover has decreased. The Authorized
Representative
that it is offering to tax is very low. Further, the turnover has
decreased by more than 5 times from
about 2.48% on a
turnover of about Rs. 18 crore and in the relevant year the turnover has
decreased to about Rs. 7.5 crores
turnover and declares
in GP. Naturally to increase the turnover the assessee had to forgo
some margins. Turnover, GP, along with increase and decrease ... table given below:-
AY Sales GP GP Rate Increase Decrease in
Turnover in GP Rate
Turnover
