turn over
shown during the year under consideration with the total turnover shown in
the preceding assessment year. The assessing officer observed that during ... compared
to the preceding assessment year. There was decrease in the total turnover at
Rs. 26,73,92,917/- as against the total turnover
that the increase in the expenses under this head is 30.73%. The
turnover of the appellant has increased from Rs. 4.29 crores ... matter of fact, the
increase/decrease of the expenses as well as turnover does not take place in a
mechanical manner since various factors result
reduced.
ii. That during the year under consideration out of total turnover,
the turnover of Rs. 30,26,21,654/- was in the nature ... rate was due to various factors such as
increased turnover, tough competition in market, decreasing profit
margin etc. I find some force in the appellant
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
rate is slightly decreased but the fall is very much justified from
the multifold increase turnover.
Your honour, even the books are rejected than ... should be appreciate.
Considering the above facts I find that the turnover of the appellant also
increase from
case of the Revenue that
sales turnover of the assessee has decreased or the net
profit ratio is less than the earlier assessment years
assessee,
which the department has not accepted as the actual turnover/sale was much more.
That, in fact, the Accountant of the assessee neither ... assessee that with the increase of turnover, generally the N.P rate is decreased.
The plea of the assessee has been that though the figure
also has a very high turnover as compared to the assessee and
also fails the quantitative filter of : turnover less than Rs. 1000 crores
applied ... order.
The turnover of Engineers India Ltd. is stated to be 2656 crores as against
the turnover of only Rs.290 crores of the assessee
turnover, gross profit
& its % for three previous years along with reasons
for fall/fluctuation in GP/ GP Rate, including
justification for increase/ decrease ... Return filed with
VAT Deptt. If there is any difference in the turnover VAT Return for Sales filed 491-591
reported
financial cost which
increased from 4.91% of Turnover in A.Y. 2011-12 to
5.91% of Turnover in A.Y. 2012-13. The Long Term ... Fall in GP Ratio 3.08%
4.25%
Less: Decrease in Depreciation (-)0.04%
Less: Decrease in Other Expenses (-)0.25%
Net Profit Ratio
