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
same direction and the same ratio in which the turnover
increases or decreases. The underline assumption of these disallowances is thus clearly erroneous
and wholly ... increase or decrease in the same ratio in which the turnover increases or decreases. I am
unable to approve this approach. In view of these
that it is offering to tax is very low. Further, the turnover has
decreased by more than 5 times from
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
would be proper to take GP rate at 27% as the turnover has
decreased [almost 20%) because it is trite law that with increase ... rate @ 27% for the reason that there was a decrease
in the turnover without providing opportunity to the assessee in
contravention of the provisions
same is as under:
1. Turnover of sales during F.Y. 2016-17 of the first three
month was decreased due to strike by jewelers ... there
is increase in total turnover by Rs. 23.04 Cr (increased by
39%) and out of the total turnover
facts are that the
Assessing Officer found that the turnover of the assessee has decreased
from ... substantial increase of expenses in the face of drastic fall of
turnover. The assessee failed to furnish bills and vouchers in support of
the expenses
rate
was prejudicially decrease in the present year but the turnover has increased
and therefore, the same was rightly accepted by the CIT(A). Hence
rate
was prejudicially decrease in the present year but
the turnover has increased and therefore, the same
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estimation of turnover and income thereon. We find
that the Assessing Officer has estimated a net profit @ 1% on the estimated
turnover on 1.5 crore ... nature and will not vary with the
increase or decrease of the turnover and therefore gross profit rate inspite of
net profit rate should have
